Yentun, Inc., has a popular line of boogie boards. Yentun reported net income of $62 million for 2016. Depreciation expense for the year totaled $28 million. Yentun, Inc., depreciates plant assets over eight years using the straight-line method and no residual value?
Yentun, Inc., paid $224 million for plant assets at the beginning of 2016. At the start of 2017, Yentun changed its method of accounting for depreciation to the double-declining-balance method. The year 2017 is expected to be the same as 2016, except for the change in depreciation method. If Yentun had been using double-declining-balance method of depreciation all along, how much net income can Yentun, Inc., expect to earn during 2017? Ignore income tax?