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On January 7, 2009, Yoder Corporation acquired machinery at a cost of $1,200,000. Yoder adopted the sum-of-the-years'-digits method of depreciation for this machine and had been recording depreciation over an estimated life of five years, with no residual value. At the beginning of 2011, a decision was made to change to the straight-line method of depreciation for this machine. Assuming a 30% tax rate, the cumulative effect of this accounting change, net of tax, is
a. $0 b. $160,000 c. $168,000 d. $240,000
Write your answer with necessary steps
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