Answer the questions for each of the following independent situations on Accounting Changes and Errors.

Berk Company purchased a machine on January 1, 2019 for $70,000. The machine has an estimated useful life of 5 years with a salvage value of $10,000. It is being depreciated using the straight-line method. On January 1, 2021, Berk reevaluated the machine's useful life and now believes it will continue for another 5 years (for a total of 7 years) and have a salvage value of $5,000 at the end of its useful life.

1. Provide the type of accounting change or identify the error for this situation.

2. Provide the type of reporting approach for the adjustment for this situation.

3. Prepare the adjusting entry to record depreciation at December 31, 2021.