(6 marks) 3. Calculate the rate of depreciation and complete the table below to illustrate the reducing balance method for depreciation of an asset, using the following information: Cost of asset is N150,000, estimated useful life is three years, and residual value is N50,000. Year Cost Annual Depreciation Accumulated Depreciation Carrying value 1 2 3 (15 marks) 4. Write short notes on: (i) Prime cost (ii) Factory overhead