Accounting

10. Gigi Inc, uses a composite method for depreciation and has the following for its fleet for 2020 Asset Cars Trucks Trailers RVs Cost $ 500,000 $ 800,000 $ 1,100,000 $ 900,000 Salvage Value $ 50,000 $ 80,000 $ 100,000 $ 150,000 Life 4 9 10 Depreciation (Annual) $ 112,500 $ 80,000 $ 100,000 $ 107,143 a. Calculate the composite depreciation rate b. Calculate the composite life