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The estimated life of a building that has been depreciated for 30 years of an originally estimated life of 50 years has been revised to

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The estimated life of a building that has been depreciated for 30 years of an originally estimated life of 50 years has been revised to a remaining life of 10 years. Based on this information, the accountant should [3 points) depreciate the remaining book value over the remaining life of the asset. adjust accumulated depreciation to its appropriate balance, through net income, based on a 40-year life, and then depreciate the adjusted book value as though the estimated life had always been 40 years. continue to depreciate the building over the original 50-year life. adjust accumulated depreciation to its appropriate balance through retained earnings, based on a 40-year life, and then depreciate the adjusted book value as though the estimated life had always been 40 years

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