The Maple Corp

The Maple Corp. bought its factory building in 1990. At the time, it expected to use the factory for 40 years, so it depreciated it using a 40-year life. In 2016, it decided that the factory will last for 50 years. Under GAAP, Maple Corp. should

A) Restate its financial statements since the factory was bought, to reflect depreciation based on a 50-year life of the factory
B) Not restate any prior year statements, but adjust the opening balance for accumulated depreciation in 2016 to be what it should have been, using depreciation based on a 50-year estimated life, and use the 50-year life for future years
C) Reflect the change in estimate in 2016 and future years, without making any adjustment for using the 40-year estimate in the past
D) Make no adjustments, and continue to use the original 40-year estimate