Vaughn Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,024,000 on January 1, 2017. Vaughn expected to complete the building by December 31, 2017. Vaughn has the following debt obligations outstanding during the construction period.

Construction loan-12% interest, payable semiannually, issued December 31, 2016		$1,990,600
Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2018		1,603,500
Long-term loan-11% interest, payable on January 1 of each year. Principal payable on January 1, 2021		990,300

Part 1 (https://www.chegg.com/homework-help/questions-and-answers/vaughn-furniture-company-started-construction-combination-office-warehouse-building-use-es-q41133868)

Part 2

Compute the depreciation expense for the year ended December 31, 2018. Vaughn elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $302,800. (Round answer to 0 decimal places, e.g. 5,275.)

Depreciation Expense

Please answer Part 2. I posted part 1 in a different question but referenced the link. Show work, please. Thanks.

Question 3 View Policies Show Attempt History Current Attempt in Progress Vaughn Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,024,000 on January 1, 2017 Vaughn expected to complete the building by December 31, 2017 Vaughn has the following debt obligations outstanding during the construction period Construction loan-12% interest, payable semiannually. Issued December 31, 2016 Short-term loan 10% interest, payable monthly, and principal payable at maturity on May 30, 2018 Long-term loan-11% interest. payable on January 1 of each year, Principal payable on January 1, 2021 $1.990,600 1603.500 990,300 Part 1 Part 2 Compute the depreciation expense for the year ended December 31, 2018. Vaughn elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $302.800. Round answer to decimal places, s 5.275) Depreciation Expenses