Machinery purchased for $55,200 by Marigold Corp. on January 1, 2015, was originally estimated to have an 8-year useful life with a residual value of $4,000. Depreciation has been entered for five years on this basis. In 2020, it is determined that the total estimated useful life (including 2020) should have been 10 years, with a residual value of $4,600 at the end of that time. Assume straight-line depreciation and that Marigold Corp. uses IFRS for financial statement purposes.Prepare the entry that is required to correct the prior years' depreciation, if any.