Pharra Industries Ltd., an entity subject to IFRS, is preparing its financial statements for its December 31 year end. Equipment with an original cost of $1,500,000 and net book value of $840,000 is currently in use, but at the beginning of the current year, management estimated that its remaining useful life was only two years, and the residual value is now expected to be $100,000. The equipment was purchased five years ago, and, when acquired, was expected to have a 10-year useful life and a residual value of $180,000. It is being amortized on a straight-line basis. Pharra pays income tax at a rate of 40%. 

What amount of depreciation expense will Pharra record in the current year ended December 31