Use the following information to answer questions 21 through 23

On January 1, 2017, CBSA Company purchased equipment with a cost of 5,000,000 with a useful life of 10 years and no salvage value. The company uses straight-line depreciation.

On December 31, 2018, the company determines that impairment indicators are present. The fair value less cost to sell the asset is estimated to be 3,600,000. The asset's value-in-use is estimated to be 3,700,000. CBSA Companyintends to continue using the equipmentin the future and the remaining useful life is 8 years.

Compute the amount of depreciation expense for this equipment that CBSA Company reports on December 31st, 2019