This year, XYZ Inc. has annual revenue of $500,000, cost of goods sold of $350,000, and administrative expenses of $50,000. The firm paid $10,000 in dividends, $3,000 in interest, and has a total tax rate of 20 percent. The firm will add $30,000 to retained earnings. What is the depreciation expense? (Please, do not round your intermediate calculations. Instead, round your final answer, if necessary, up to two decimal places without the dollar symbol (\$). Example, \$1,200.5535 must be entered as 1,200.55; otherwise, you will receive an error message)