Current Attempt in Progress Incorrect answer icon Your answer is incorrect. Blossom Company purchased equipment that cost $2910000 on January 1, 2020. The entire cost was recorded as an expense. The equipment had a 9-year life and a $116400 residual value. Blossom uses the straight-line method to account for depreciation expense. The error was discovered on December 10, 2022. Blossom is subject to a 40% tax rate. Blossoms net income for the year ended December 31, 2020, was understated by

a$2599600.

b$1746000.

c$1559760.

d$2910000.