CES Exercise 11-09 (Part Level Submission) Presented below is information related to Coronado Manufacturing Corporation. Asset Cost Estimated Life (in years) Estimated Salvage $5,000 4,500 3,800 1,800 3,300 Your answer is correct. Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 Composite rate 10.580 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT (b) Prepare the adjusting entry necessary at the end of the year to record depreciation for the year. (If no entry is required, select "No entry for the acco amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Use Plant Assets related account Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS