On August 10, 2017, Sophia purchased and placed into service a commercial building (39 years SL) for $3.000,000 (building $2,250,000 and land $750,000). On January 1, 2022, the commercial building was contributed to the newly formed partnership S&L Commercial Properties Ltd. At the time of the contribution the building and land were valued at $4,500,000 (building $3,500,000 and land $1,000,000). The initial tax annual tax depreciation equals $57,692 = $2,250,000/39 years. As of December 31, 2021, the adjusted tax basis of the building was $1,997,597. There are 415.5 months remaining the the class life for this commercial building. 

Calculate the annual book depreciation using the traditional method found in Regulation 1.