Zeta Equipment Manufacturers, Inc. (ZEM) reported the net book value of a plant asset at $2.625.000 on January 1 of the current year. There is a $507.000 expected residual value and the estimated useful life is 25 years. On January 1 of the current year following 5 full years of depreciation, the company determined that the asset will be useful for only another 5 years and reduced the expected residual value to $180,000. The change in estimate is needed to reflect extended usage and running the factory above normal capacity to meet increased demand. ZEM uses the straight-line method of depreciation. The company is subject to a 40% tax rate. 0 Requirements a. Determine the original cost of ZEM's plant asset b. Compute the annual depreciation expense for the first 5 years of the asset's life c. Prepare the journal entry to record the change in estimate d. Prepare the footnote disclosure for the accounting change Print Done