Mobic Inc. acquired some manufacturing equipment in January 2018 for $400,000 and depreciated at $40,000 each year for three years on a straight-line basis. During 2021, the manufacturer announced a new technology for this type of equipment that will make the old models obsolete by the end of 2024. As a result, Mobic will plan to replace the equipment at that time, effectively reducing the asset's life from ten to seven years. In its financial statements for 2021, Mobic should: Charge $280,000 in depreciation expense. Report the book value of the equipment in its December 31,2021 balance sheet at $210,000. Make an adjustment to retained earnings for the error in measuring depreciation during 2018-2020 None of these answer choices are correct. OD