And prepare the adjusting entry necessary at the end of the year to record depreciation for the year.

Presented below is information related to Swifty Manufacturing Corporation Estimated Estimated Life (in Asset Cost Salvage years) $52,200 $6,500 10 33,700 4,900 9 35,500 4,000 D 19,800 1,600 24,300 3,000 B 9976 E (a) Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 1.83%) Composite rate eTextbook and Media