Irwin, Incorporated constructed a machine at a total cost of $54 million. Construction was completed at the end of 2020 and the machine was placed in service at the beginning of 2021. The machine was being depreciated over a 10-year life using the straight-line method. The residual value is expected to be $2 million. At the beginning of 2024, Irwin decided to change to the sum-of-the-years-digits method.

Ignoring income taxes, prepare the journal entry relating to the machine for 2024.