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You have been given the following information for MB Pet Supply's Corp.:
net sales = $8,550,000
cost of goods sold = $5,890,000;
addition to retained earnings = $760,000;
dividends paid to preferred and common stockholders = $376,200;
interest expense = $646,000.
The firm's tax rate is 35 percent. Calculate the depreciation expense for MB Pet Supply's Corp.
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