On January 1, 20X3, Sopchoppy Company purchased a building and machinery that have the following useful lives, original costs, and salvage values. SOPCHOPPY COMPANY INFORMATION ABOUT BUILDING AND MACHINERY ASSETS AT JANUARY 1, 20X3 Original Cost Salvage Value Asset Estimated Life 25 years $ 4,000,000 $ 10 years Building Machinery 500,000 0 The building has been depreciated under the straight line method through 20X7. In 20X8, the company decided to switch to the double declining balance method of depreciation for the building. Sopchoppy also decided to change the total useful life of the machinery to 8 years, with a salvage value of $25,000 at the end of that time. The machinery is depreciated using the straight line method