Washburn Company spent $$10$ million to purchase a new patented technology, debling an intanglble asset and crediting cash. Washburn uses SYD depreciation on its depreciable assets and plans to amortize the intangible asset on a straight$-$line basis. The appropriate accounting treatment is that Washburn:

Multiple Choice

$$ is not required to make any accounting adjustments.

$$ is required to adjust a change in accounting estimate prospectively.

$$ has made a change in accounting principle, requiring retrospective adjustment.

$$ needs to correct an accounting error.