Highsmith Rental Company purchased an apartment building early in 2021. There are 20 apartments in the bullding and each is furnished with major kitchen appilances. The company has decided to use the group depreclation method for the appliances. The following data are avalable: In 2024, four new refrigerators costing $4.200 were purchased tor cash, In that same year, the old refrigerators, which originally cost $4,500, were sold for $1,700. Required: 1. Calculate the group depreciation rate, group life, and depreciation for 2021. 2. Prepare the joumal enties to record the purchase of the new refigerators and the sale of the old refiggerators. Complete this question by entering your answers in the tabs below. Calculate the group depreciation rate, group life, and depreciation for 2021. (Round "Group depreciation rate" and "Group life" amwors to 7 decimal placesi)