Prior to 2021, Trapper John Inc. used sum-of-the-years'-digits depreciation on its store equipment. Beginning in 2021, Trapper John decided to use straight-line depreciation for these assets. The equipment cost $3 million when it was purchased at the beginning of 2019, had an estimated useful life of five years and no estimated residual value. To account for the change in 2021, Trapper John: Multiple Choice Would retrospectively report $600,000 in depreciation expense annually for 2019 and 2020, and report $600,000 in depreciation expense for 2021. Would adjust accumulated depreciation and retained earnings for the excess charges made in 2019 and 2020. Would report depreciation expense of $400,000 in its 2021 Income statement. O None of these answer choices are correct