Vandross NV has recorded bad debt expense in the past at a rate of 1% of receivables.

Vandross NV has recorded bad debt expense in the past at a rate of 1½% of receivables. In 2022, Vandross decides to increase its estimate to 2%. If the new rate had been used in prior years, cumulative bad debt expense would have been €380,000 instead of €285,000. In 2022, bad debt expense will be €120,000 instead of €90,000. If Vandross’s tax rate is 30%, what amount should it report as the cumulative effect of changing the estimated bad debt rate?