Nature Power Company uses the composite method and straight-line depreciation for its power plant equipment. Its Apple River plant, which began generating electricity January 1, 2021, had the following equipment:

Equipment	Life (Years)	Estimated Cost			Residual Value
Turbines	25	$	4,500,000		$	500,000
Steam pipes	15		3,000,000			300,000
Furnace	20		6,000,000			0

Required: 1. Compute the composite depreciation rate. (Round your answer to 2 decimal places.) 2. Compute the average service life. (Round your answer to 1 decimal place.) 3. Compute 2021 depreciation.

1.Composite depreciation rate. %

2.Average service life years

3.Depreciation