On July 8 , 2017 , Lindy's , Inc. purchased a service vehicle for $ 53,000 . The estimated useful life was 5 years ; $ 20,000 residual value . The company uses the straight - line method of depreciation ; full month convention . On January 21 , 2019 , Lindy's had storage and shelving units permanently installed in the vehicle , increasing the type of jobs that Lindy's personne could handle at remote job sites . The cost of the upgrade was $ 15,015 . The upgrade was not expected to extend the life of the vehicle . In December 2020 , the service manager revise the estimate of the life and residual value of the vehicle to 7 years $ 10,000 , respectively Which of the following is ( are ) true about Lindy's financial statement disclosure requirements 2021?

Select one :

a. No special disclosures are required . This is a change in estimate made in the ordinary course of business .

b. Lindy's would need to disclose the new depreciation amount for the asset and the reason for the change in estimated life and residual value

c. Lindy's would need to disclose the effect of the change in life and residual value on depreciation expense in 2021 if the amount is material

d . Lindy's would need to disclose the effect of the change in life and residual value on related per - share amounts , if material

e Band D

f Cand D

g.B and C