William Brown, maintenance supervisor for Monty Insurance Co., has purchased a riding lawnmower and accessories to be used in maintaining the grounds around corporate headquarters. He has sent the following information to the accounting department. Cost of mower and accessories $2,650 Estimated useful life 5 yrs Salvage value $0 Date purchased Monthly salary of groundskeeper Estimated annual fuel cost 7/1/20 $880 $150 Compute the amount of depreciation expense (related to the mower and accessories) that should be reported on Monty's December 31, 2020, income statement. Assume straight-line depreciation. Depreciation expense $ 530