5.XYZ Company purchased equipment that cost $375,000 on January 1, 2019. The entire cost was recorded as an expense. The equipment had 9 year's useful life and a $15,000 residual value. XYZ Co. uses the straight-line method to account for depreciation expense. The error was discovered on December 10, 2021. XYZ's net income for the year ended December 31, 2017, was understated by (3 Points) 335,000 225,000 0 375,000