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Calculate the composite rate of depreciation

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Question - For questions 19 and 20, use the following schedule of machinery owned by Canine Co. is presented below:

 

Total Cost

Estimated Salvage Value

Estimated Life in Years

Machine X

$500,000

$10,000

7

Machine Y

300,000

30,000

6

Machine Z

250,000

18,000

3

Canine Co. computes depreciation by the composite method.

1. The composite rate of depreciation (in percent) for these assets is

a. 19.39

b. 18.32

c. 5.85

d. 5.52

2. The composite life (in years) for these assets is

a. 5.16

b. 5.46

c. 1.06

d. 4.72

Reference no: EM132432286

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