furnished with major kitchen appliances. The company has decided to use the group depreciation method for the appliances. The following data are available: Residual Service Life Appliance Cost Stoves $51,000 Refrigerators Dishwashers 46,000 44,000 Value $9,000 1,000 9,000 (in Years) 6 5 4 In 2024, three new refrigerators costing $4,500 were purchased for cash. In that same year, the old refrigerators, which originally cost $5,100, were sold for $2,000. Required: 1. Calculate the group depreciation rate, group life, and depreciation for 2021. 2. Prepare the journal entries to record the purchase of the new refrigerators and the sale of the old refrigerators. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the group depreciation rate, group life, and depreciation for 2021. (Round "Group depreciation rate" and "Group life" answers to 2 decimal places.) Group depreciation rate Group life Depreciation for 2021 (Straight Line) % years