Estimated Useful Life Richardson Inc. owns the following assets : Asset Cost A $ $420,000$ B $ $225,000$ Salvage $ $34,000-$ $ $22,0008$ years $5$ years $10$ years C $ $432,000$ $ $24,000$ What is the composite depreciation rate and composite life of Richardson's assets $?12\mathrm{.}0\%$ and $7\mathrm{.}7$ years $10\mathrm{.}3\%$ and $8\mathrm{.}9$ years $13\mathrm{.}0\%$ and $7\mathrm{.}7$ years $11\mathrm{.}1\%$ and $8\mathrm{.}9$ years