On January 2, 2020, Wildcat Corporation acquired machinery at a cost of $4,200,000. Widcat adopted the sum-of-the-years-digits method of depreciation for this machine and had been recording depreciation over an estimated life of five years, with no residual value. At the beginning of 2022, a decision was made to change to the straight-line method of depreciation for this machine. Assuming a 30% tax rate, the cumulative effect of this accounting change, net of tax, is a. $0 b. $560,000 c. $588,000 d. $840,000