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Calculate the composite depreciation rate for this group

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Reference no: EM132760245

Question - Machines are acquired by Tara Corporation on January 1, 2020 as follows:

Machine

Cost

Estimated Residual Value

Estimated Service Life

511

$27,000

$5,000

11 years

512

$31,000

$7,000

6 years

513

$52,000

$10,000

7 years

514

$32,000

$0

8 years

515

$23,000

$3,000

4 years

Required -

(a) Calculate the composite depreciation rate for this group.

(b) Calculate the average service life in years for this group.

Reference no: EM132760245

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