Equipment was purchased at the beginning of 2016 for $850,000. At the time of its purchase, the equipment was estimated to have a useful life of six years and a salvage value of $100,000. The equipment was depreciated using the straight-line method of depreciation through 2018. At the beginning of 2019, the estimate of useful life was revised to a total life of eight years and the expected salvage value was changed to $62,500. The cumulative effect of this accounting change to be reported as of 1/1/2019, assuming a 40% tax rte, is Select one: a. $95,000 b. $0. o. $51.562 d. $82,500, Next Page