YoY growth rate of 17 percent Plant currently operating at capacity Growth will require a new machine costing $3 million Assume additional $300,000 of annual depreciation for this new machine (10%/year). FY23 Sales $25,189,033 Cost of Goods Sold $19,899,336 Other Expenses $2,770,794 Depreciation $1,007,561 Taxable Income $1,511,342 Taxes (21%) $317,382 Net Income $1,193,960 Dividends $500,000 Add. to Retained Earnings $693,960. Solve for FY24 depreciation