3) 3) A change in the estimated useful life and residual value of machinery in the current year is handled as: A) A retrospective change back to the date of acquisition as though the current estimated life and residual value had been used all along. B) A cumulative adjustment to income in the current year for the difference in depreciation under the new versus old estimates. C) A prospective change from the current year through the remainder of its useful life, using the new estimates D) All of these answer choices are incorrect