Machinary a/c, accumulated depreciation a/cOn January 1, 2004, the Accumulated Depreciation, Machinery
account of a particular company showed a balance of $740,000.At the end of 2004, after the adjusting entries were posted,
it showed a balance of $790,000. During 2004, one of the machines which cost
$250,000 was sold for $121,000 cash. This resulted in a loss of $8,000.
Assuming that no other assets were disposed of during the
year, how much was depreciation expense for 2004?