Nancy Company purchased a machine Ihat originally

c. Understatement of subsequent year's net income.

d. Overstatement of current year's net income.

e. None of the above.

Now turn to page 398 to check your answers.

had an estimated eight years of useful life. At the end of the third year, Nancy determined that the machine would last only three more years. Does this revision affect past depreciation taken? ki7