Presented below is information related to Ivanhoe Manufacturing Corporation. Estimated Life (in years) 10 Asset Cost Estimated Salvage $6,765 5,904 4,428 1,845 3,075 A $49,815 41,328 44,280 23,370 28,905 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, eg, 4.83%) Composite rate eTextbook and Media List of Accounts 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 a Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Prepare the entry to record the sale of asset D for cash of $5,904. It was used for 6 years, and depreciation was entered under the composite method. (If no manually. Use Plant Assets related account.) t Titles and Explanation Accoun Debit Credit