You have been given the following information for Corky's Bedding Corp.:

a. Net sales = $12,800,000.

b. Cost of goods sold = $9,300,000.

c. Other operating expenses = $290,000.

d. Addition to retained earnings = $1,040,000.

e. Dividends paid to preferred and common stockholders = $395,000.

f. Interest expense = $980,000.

The firm's tax rate is 30 percent.

Calculate the depreciation expense for Corky's Bedding Corp.