During 2016 and 2017, Faulkner Manufacturing used the sum-of-the-years'-digits (SYD) method of depreciation for its depreciable assets, for both financial reporting and tax purposes. At the beginning of 2018, Faulkner decided to change to the straight-line method for both financial reporting and tax purposes. A tax rate of 40% is in effect for all years. For an asset that cost $16,000 with an estimated residual value of $1,000 and an estimated useful life of 10 years, the depreciation under different methods is as follows: Year Straight Line SYD Difference 2016 $1,227 955 $1,500 $2,727 2017 2,455 5,182 $3,000 $ 2,182 Required 1. Prepare the journal entry that Faulkner will record in 2018 related to the change. 2. Suppose instead that Faulkner previously used straight-line depreciation and changed to sum-of-the-years'- digits in 2018. Prepare the journal entry that Faulkner will record in 2018 related to the change