Presented below is information related to Kingbird Manufacturing Corporation. Estimated Life (in years) Asset Cost Estimated Salvage $6,435 5,616 4,212 1,755 2,925 A $47.385 39.312 C 42120 D 22,230 E 27495 10 Compute the rate of depreclation per year to be applied to the plant assets uter the composite method. (Round answer to 2 decimal place, eg, 483%) Composite rate List of Accounts Prepare the adjusting entry necessary at the end of the year to record depreciation for the year.(f no entry is required, select No entry for the account titles and enterO 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 List of Accounts Prepare the entry to record the sale of asset D for cash of $5,616. It was used for 6 years, and depreciation was entered under the composite method. Of no entry is required, select "No entry-for the account titles and en ero 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 Credit