Question 8 2 pts Mobic Inc. acquired some manufacturing equipment in January 2013 for $400,000 and depreciated it $40,000 each year for three years on a straight-line basis. During 2016, the manufacturer announced a new technology for this type of equipment that will make the old models obsolete by the end of 2019. As a result, Mobic will plan to replace the equipment at that time, effectively reducing the asset's life from ten to seven years. In its financial statements for 2016, Mobic should: Charge $280.000 in depreciation expense. Report the book value of the equipment in its 12/31/2016 balance sheet at $210,000 Make an adjustment to retained earnings for the error in measuring depreciation during 2013-2015 None of these answer choices is correct