You are given the following information from a firm's income statement for 2016:
Sales = $700,000
Dividends Paid to Stockholders = $78,000
Cost of Goods Sold = $180,000
General & Administrative Expenses = $160,000
Amount added to Retained Earnings = $52,000
Interest Expense = $45,400
Tax Rate = 35 percent.
Calculate the depreciation expense for 2016.