ABC Company owns a plant with a valuation of $90,000. The plant was initially expected to have a useful life of 10 years

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ABC Company owns a plant with a valuation of $90,000. The plant was initially expected to have a useful life of 10 years

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ABC Company owns a plant with a valuation of $90,000. The plantwas initially expected to have a useful life of 10 years. Threeyears after acquiring the plant, ABC obtains new informationsuggesting the building will not last the full ten years. Thecompany estimates the plant only has a total useful life of 5years. Assume the company keeps the straight-line depreciationmethod and the plant has no estimated salvage value. How should ABCCompany report this change in estimate?
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