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PLEASE ANSWER ALL The Peridot Company purchased machinery on January 2, 2016, for $920,000. A five-year life was estimated and no residual value was anticipated.

PLEASE ANSWER ALL
The Peridot Company purchased machinery on January 2, 2016, for $920,000. A five-year life was estimated and no residual value was anticipated. Peridot decided to use the straight-line depreciation method and recorded $184,000 in depreciation in 2016 and 2017. Early in 2018, the company revised the total estimated life of the machinery to eight years. Required: 1. What type of change is this? 3. Determine depreciation for 2018. 1. Type of change New annual depreciation 3

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