Songtress Company Bought a Machine on January 1,2012,for $24,000,at Which

Multiple Choice

Songtress Company bought a machine on January 1,2012,for $24,000,at which time it had an estimated useful life of eight years,with no residual value.Straight-line depreciation is used for all of Songtress' depreciable assets.On January 1,2014,the machine's estimated useful life was determined to be only six years from the acquisition date.Accordingly,the appropriate accounting change was made in 2014.Songtress' income tax rate was 40 percent in all the affected years.In Songtress' 2014 financial statements,how much should be reported as the cumulative effect on prior years because of the change in the estimated useful life of the machine?

A) $0
B) $1,200
C) $2,000
D) $2,800