A schedule of machinery owned by Micco Co. is presented below:

Estimated Estimated

Total Cost Salvage Value Life in Years

Machine X $300,000 $20,000 14

Machine Y 400,000 40,000 10

Machine Z 150,000 30,000 6

Micco computes depreciation by the composite method.

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

a. 8.94.

b. 10.59.

c. 8.57.

d. 15.56.

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

a. 15.6.

b. 8.6.

c. 8.9.

d. 10.0.