On January 1, 2016, the Master Company purchased a machine for $36,000 that had a ten-year estimated useful life and no estimated salvage value. At the start of the seventh year of use, a new energy saving device was added to the machine that extended its original useful life an additional two years. This change in the seventh year should be accounted for by
A) including the cumulative effect of the change in net income for the current period.
B) depreciating the remaining book value over four years.
C) retroactively adjusting income of prior periods using the newly adjusted useful life.
D) depreciating the remaining book value over six years.
D
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Indicate whether the statement is true or false
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Indicate whether this statement is true or false.