You have been given the following information for Corky’s Bedding Corp.:
a. Net sales = $11,450,000.
b. Cost of goods sold = $8,300,000.
c. Other operating expenses = $190,000.
d. Addition to retained earnings = $1,020,000.
e. Dividends paid to preferred and common stockholders = $345,000.
f. Interest expense = $880,000.
The firm’s tax rate is 30 percent.
Calculate the depreciation expense for Corky’s Bedding Corp.
Depreciation expense $