88. Ernst Company purchased equipment that cost $3,000,000 on January 1, 2023. The entire cost was recorded as an expense. The equipment had a nine-year life and a $120,000 residual value. Ernst uses the straight-line method to account for depreciation expense. The error was discovered on December 10,2025 . Ernst is subject to a 20% tax rate. Ernst's net income for the year ended December 31, 2023, was understated by