Machines are acquired by Milestone Corporation on April 1, 2013, as follows:

Instructions:
1. Calculate the group depreciation rate for this group.
2. Calculate the average life in years for the group.
3. Give the entry to record the group depreciation for the year ended December 31, 2013.

Transcribed Image Text:

Estimated Residual Value Estimated Life in Years Machine Cost $27,000 $5,000 511 512 513 514 515 7,000 6 52,000 38,000 23,000 10,000 None 8 4,000 5