On January 1, 2022, Sunland Corporation acquired machinery for $1660000. Sunland 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 2025, a decision was made to change to the double-declining balance method of depreciation for this machine. Assuming a 20% tax rate, the cumulative effect of this accounting change on beginning retained earnings, is O $0. O $249664. O $312080. O $185920.

On January 1, 2022, Sunland Corporation acquired machinery for $1660000. Sunland 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 2025, a decision was made to change to the double-declining balance method of depreciation for this machine. Assuming a 20% tax rate, the cumulative effect of this accounting change on beginning retained earnings, is $0. $249664. $312080. $185920