On January 1, 2016, Nobel Corporation acquired machinery at a cost of $1,600,000. 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 2019, a decision was made to change to the double-declining balance method of depreciation for this machine.

The amount that Nobel should record as depreciation expense for 2019 is

A) $160,000. B) $224,000. C) $320,000. D) $280,000.

Assuming a 30% tax rate, the cumulative effect of this accounting change on beginning retained earnings, is

A) $179,200. B) $0. C) $210,560. D) $300,800.