a.	Determine the original cost of TEM's plant asset.
b.	Compute the annual depreciation expense for the first 5 years of the asset's life.
c.	Prepare the journal entry to record the change in estimate.
d.	Prepare the footnote disclosure for the accounting change.

Thun Equipment Manufacturers, Inc. (TEM) reported the net book value of a plant asset at $2,625,000 on January 1 of the current year. There is a $513,000 expected residual value, and the estimated useful life is 25 years. On January 1 of the current year, following 5 full years of depreciation, the company determined that the asset will be useful for only another 5 years and reduced the expected residual value to $180,000. The change in estimate is needed to reflect extended usage and running the factory above normal capacity to meet increased demand. TEM uses the straight-line method of depreciation. The company is subject to a 40% tax rate