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Marigold Corp. constructed a building at a cost of $30600000. Weighted-average accumulated expenditures were $13000000, actual interest was $1300000, and avoidable interest was $604000. If the salvage value is $2400000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is

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Answer: 720,100

Explanation:

Given that:

Cost of building = 30600000

Avoidable interest = 604,000

Salvage value = 2400000

Useful life = 40 years

((Cost of building + Avoidable interest) - salvage value)) / 40

((30600000 + 604000) - 2400000)) / 40

= 28804000 / 40

= 720,100

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