On December 31, 2022, Stubfoot Co. reported a credit balance of $350,000 in the Allowance for Bad Debt, prior to any adjusting journal entries. During 2023, the company had credit sales of $12,250,000 and wrote off $403,000 of receivables deemed uncollectible. Assuming the company's ending accounts receivable balance for 2023 will be $4,334,000 and that they want to estimate bad debt as 5% of ending A/R, what should Stubfoot Co. report as Bad Debt expense for the year?