10) On December 31, 2021, ABC, Inc. changed its inventory valuation method to FIFO cost from LIFO cost for financial statement and income tax purposes. The change will result in a $280,000 increase in the beginning inventory at January 1, 2021. Assume a 20% income tax rate. The cumulative effect of this accounting change on beginning retained earnings is _______

11) Saturn Company purchased a machine on January 1, 2018, for $900,000. At the date of acquisition, the machine had an estimated useful life of ten years with no salvage. The machine is being depreciated on a straight-line basis. On January 1, 2022, Saturn determined that the machine had an estimated useful life of 15 years from the date of acquisition with no salvage. An accounting change was made in 2022 to reflect this additional information.What is the amount of depreciation expense for the year ended December 31, 2022?