T$-$Mitch calculates and records depreciation using the straight line method.

A piece of machinery was purchased on January $1$st and depreciation on this asset needs to be recorded on December $31$st to ensure financial statements are accurate.

Based on the following information, what is the amount of DEPRECIATION EXPENSE that should be recognized and recorded on December $31$st of Year $1?$

Machinery Purchase Price $320,000$

Freight and Delivery Costs $1500$

Installation and Testing Costs $500$

Salvage Value $1250$

Useful Life in Years $10$

Do NOT use dollar signs or commas in your answer.