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A company uses group depreciation for the following vehicles. Item Cost Residual Value Service Life (in years) Trucks $ 135,000 $3,000 6 Vans 47,000 2,000
A company uses group depreciation for the following vehicles.
Item Cost Residual Value Service Life (in years) Trucks $ 135,000 $3,000 6 Vans 47,000 2,000 5 Cars 29,000 1,000 4
What is the group depreciation rate as a percentage shown to one decimal place (such as 11.1).
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