ABC LTD has depreciated a machine over its expected useful life of 5 years The cost of machine was $100.000 an depreciation charge was therefore $20,000. No residual value is expected at the end of the machine's useful life Three years later, the remaining useful life of the machine was estimated to be only 1 year ABC LTD should account for the change in estimate prospectively by allocating the net carrying amount of the asse remaining useful life ABC LTD has depreciated a machine over its expected useful life of 5 years The cost of machine was $100.000 an depreciation charge was therefore $20,000. No residual value is expected at the end of the machine's useful life Three years later, the remaining useful life of the machine was estimated to be only 1 year ABC LTD should account for the change in estimate prospectively by allocating the net carrying amount of the asse remaining useful life