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What accumulated depreciation account for machine should

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Problem 1: On January 1, 2016, Manchester Ltd. purchased a machine for $495,000 and depreciated it using the straight-line method with an estimated useful life of eight years with no residual value. On January 1, 2019, Plover determined that the machine had a useful life of only six years from the date of acquisition, but will have a residual value of $45,000. An accounting change was made in 2019 to reflect these additional facts. At December 31, 2020, the accumulated depreciation account for this machine should have a balance of

a. $281,250.
b. $361,875.
c. $375,000.
d. $273,750.

Reference no: EM132958200

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