You have been given the following information for Corkys Bedding Corp.:

1. Net sales = $11,250,000.

2. Cost of goods sold = $7,500,000.

3. Other operating expenses = $250,000.

4. Addition to retained earnings = $1,000,000.

5. Dividends paid to preferred and common stockholders = $817,000.

6. Interest expense = $850,000, all of which is tax deductible.

The firms tax rate is 21 percent.

Calculate the depreciation expense for Corkys Bedding Corp. (Round your answer to the nearest dollar amount.)