Highsmith Rental Company purchased an apartment building early in 2018. There are 15 apartments in the building and each is 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 Lite Appliance Cost (in Year) Stoves $31,000 $4,000 Refrigeratoru 26,000 9,000 Dishwashers 24,000 8.000 Value In 2021, three new refrigerators costing $3,500 were purchased for cash. The old refrigerators, which originally cost $3,100, were sold for $1,000 Required: 1. Calculate the group depreciation rate, group life, and depreciation for 2018. 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 2018. (Round "Group depreciation rate" and "Group life