On January 1, 2015, Nobel Corporation acquired machinery at a cost of $600,000. Nobel adopted the straight-line method of depreciation for this machine and had been recording depreciation over an estimated life of ten years, with no residual value. At the beginning of 2018, a decision was made to change to the double-declining balance method of depreciation for this machine Assuming a 30% tax rate, the cumulative effect of this accounting change on beginning retained earnings, is a. $67,200. b. $0 c. $78,960. d. $112,800. 18