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Find the accumulated depreciation for this machine

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Question - On January 1, 2019, Cullumber Co. purchased a machine for $2412000 and depreciated it by the straight-line method using an estimated useful life of 8 years with no salvage value. On January 1, 2022, Cullumber determined that the machine had a useful life of 6 years from the date of acquisition and will have a salvage value of $192000. An accounting change was made in 2022 to reflect these additional data. Find the accumulated depreciation for this machine should have a balance at December 31, 2022?

a. $1407000.

b. $1480000.

c. $1608000.

d. $1343000.

Reference no: EM132723770

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