On January 1, 2002, Meyer Corporation acquired machinery at a cost of P800,000. Meyer adopted the double-declining-balance method of depreciation for this equipment and had been recording depreciation over an estimated life of eight years, with no residual value. At the beginning of 2005, a decision was made to change to the straight-line method of depreciation for this equipment. Assuming a 30% tax rate, the cumulative effect of this accounting change, net of tax, is

a.P162,500.

b.P113,750.

c.P105,000.

d.P102,812.