Current Attempt in Progress On January 1. 2022. Sandhill Corporation acquired machinery for $1680000. Sandhill adopted the straight-line method of depreciation for this machine and had been recording depreciation over an estimated life of ten years, with no residual value. At the beginning of 2025, a decision was made to change to the double-declining balance method of depreciation for this machine.

assuming a 20% tax rate the cumulative effect of this accounting change on beginning retained earnings, is