Part V: Short Analysis (6 points) Jerry Prior, Beeler Corporation's controller, is concerned that net income may be lower this year. He is afraid upper-level management might recommend cost reductions by laying off accounting staff, including him. Prior knows that depreciation is a major expense for Beeler. The company currently uses the straight-line method for financial reporting. Beeler Corporation's equipment has a carrying value of $2,000,000 and a fair value of $2,180.000. Prior is thinking of increasing the estimated useful lives and the salvage values? He believes this will decrease depreciation expense. And as a result, he may be able to save his job and those of his staff. Instructions Answer the following questions. (a) Explain how should a company account for change in salvage value and useful life. (2 points) (b) Who are the stakeholders in this scenario (identify at least two stakeholders)? Please note, stakeholder is someone who has an interest in a given scenario or decision. (2 points) (C) What should Prior do? (2 points)