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Find the accumulated depreciation for this machine

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Question - On January 1, 2010, Lansing Co. purchased a machine for $1,056,000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. On January 1, 2013, Lansing determined that the machine had a useful life of six years from the date of acquisition and will have a salvage value of $96,000. An accounting change was made in 2013 to reflect these additional data. Find the accumulated depreciation for this machine should have a balance at December 31, 2013?

a. $584,000.

b. $616,000.

c. $640,000.

d. $704,000.

Reference no: EM132600395

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