At the beginning of 2022, Robotics Incorporated acquired a manufacturing facility for $12.4 million. $9.4 million...
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At the beginning of 2022, Robotics Incorporated acquired a manufacturing facility for $12.4 million. $9.4 million of the purchase price was allocated to the building. Depreciation for 2022 and 2023 was calculated using the straight-line method, a 20-year useful life, and a $1.4 million residual value. In 2024, the company switched to the double-declining-balance depreciation method. What is depreciation on the building for 2024? Note: Do not round intermediate calculations. Enter your answer in whole dollars rounded to the nearest whole number. Depreciation At the beginning of 2022, Robotics Incorporated acquired a manufacturing facility for $12.4 million. $9.4 million of the purchase price was allocated to the building. Depreciation for 2022 and 2023 was calculated using the straight-line method, a 20-year useful life, and a $1.4 million residual value. In 2024, the company switched to the double-declining-balance depreciation method. What is depreciation on the building for 2024? Note: Do not round intermediate calculations. Enter your answer in whole dollars rounded to the nearest whole number. Depreciation
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