On Feb 1, 2020, the Bean company completed the acquisition of the Coffee Corporation for $3,410,000 in cash. The fair va

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On Feb 1, 2020, the Bean company completed the acquisition of
the Coffee Corporation for $3,410,000 in cash. The fair value of
the net identifiable assets of Coffee was $2,950,000. Bean
purchased a patent on April 30, 2020 that was valued at $101,400.
The remaining legal life of the patent was 17 years, but Bean
believes that the patent will only be useful for another nine
years. Bean received approval for a trademark on July 1, 2020, by
paying a legal fee of $120,000. The contractual life of the
trademark is 10 years. Bean spent $57,000 from Sept 1 through Sept
30 for experimental purposes in connection with the development of
a new product. On Oct 1, Bean installed a new part, at a cost of
$88,000, on it's most used coffee machine that would make the
machine more efficient to produce more bags of coffee. The machine
has a useful life of 8 years remaining with no salvage value, and a
current book value of 208,000. Bean uses straight-line depreciation
on it's machines. On Dec 31, 2020 Bean Co. traded one of its old
machines with an original cost of $13,400 and a book value of
$4,800, plus cash of $12,500 for a new machine that had a fair
value of $20,200. The exchange has commercial substance.
how much Depreciation Expense should Bean record in
total for all of it's long-term assets on December
31st?