Refer to the situation described in BE 11–14. Assume that instead of changing the useful life and residual value, in 2024 the company switched to the double-declining-balance depreciation method. How should Robotics account for the change? What is depreciation on the building for 2024?

Data from in BE 11-14

At the beginning of 2022, Robotics Inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was allocated to the building. Depreciation for 2022 and 2023 was calculated using the straight-line  method, a 25-year useful life, and a $1 million residual value. In 2024, the estimates of useful life and residual value were changed to 20 total years and $500,000, respectively. What is depreciation on the building for 2024?