You have been given the following information for Corky’s Bedding Corp.:
a. Net sales = $12,600,000.
b. Cost of goods sold = $9,200,000.
c. Other operating expenses = $280,000.
d. Addition to retained earnings = $1,010,000.
e. Dividends paid to preferred and common stockholders = $390,000.
f. Interest expense = $970,000.
The firm’s tax rate is 30 percent.
Calculate the depreciation expense for Corky’s Bedding Corp.
Depreciation expense $