On January 1, 2013, Plover Ltd

Multiple Choice

On January 1, 2013, Plover Ltd.purchased a machine for $330,000 and depreciated it using the straight-line method with an estimated useful life of eight years with no residual value.On January 1, 2016, 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 $30,000.An accounting change was made in 2016 to reflect these additional facts.At December 31, 2017, the accumulated depreciation for this machine should have a balance of

A) $182,500.
B) $187,500.
C) $241,250.
D) $250,000.