This year, XYZ Inc. has annual revenue of $457,800, cost of goods sold of $253,200, and administrative expenses of $62,300. The firm paid $7,000 in dividends, $2,880 in interest, and has a total tax rate of 21 percent. The firm will add $28,000 to retained earnings. What is the depreciation expense? (Please, do not round your intermediate calculations. Instead, round your final answer, if necessary, up to two decimal places without the dollar symbol ($).