A building that was purchased on December 31, 2011, for $2,500,000 was originally estimated to have a

Question:

A building that was purchased on December 31, 2011, for $2,500,000 was originally estimated to have a life of 50 years with no salvage value at the end of that time. Depreciation has been recorded through 2025. During 2026, an examination of the building by an engineering firm discloses that its estimated useful life is 15 years after 2025. What should be the amount of depreciation for 2026?

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