Ivanhoe Company purchased equipment that cost $3020000 on January 1.2020. The entire cost was recorded as an expense. The equipment had a 9-year life and a $119000 residual value. Ivanhoe uses the straight-line method to account for depreciation expenst. The error was discovered on December 10,2022 . Ivanhoe is subject to 40% tax rate. Before the correction was made and before the books were closed on December 31,2022 , retained earnings wasunderstated by $1812000. $1336933. $1353050. $1425200