Holt Developments Ltd. put an asset in service on January 1, 2018. Its cost was $378,000, its predicted service life was six years, and its expected residual value was $37,800. The company decided to use double declining balance depreciation. After consulting with the company's auditors, management decided to change to straight-line depreciation in 2020, without changing either the original service life or residual value, Required: a. What is depreciation expense for 2020? Depreciation expense b. Calculate the effect of this change on retained eamings Answer is not complete. Retained earnings will increase by