Presented below is information related to Bramble Manufacturing Corporation Asset Estimated Life (in years) 10 9 A B Estimated Salvage $5,500 4,600 3,900 2,300 2.400 Cost $47.900 33.400 36,300 18.400 24,600 9 7 D 6 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, es. 4.83%) Composite rate Prepare the adjusting entry necessary at the end of the year to record depreciation for the year. If no entry is required, select "No entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Use Plant Assets related account.) Account Titles and Explanation Debit Credit