On January 1, 2016, Powell Company purchased a building having the following useful lives, salvage value, and costs. Building, 25-year estimated useful life, $5,000,000 cost, $500,000 salvage value The building has been depreciated under the straight-line method through 2020. In 2021, the company decided to switch to the double-declining balance method of depreciation for the building. Prepare the journal entry necessary to record the depreciation expense on the building in 2021 SHOW YOUR CALCULATIONS