Presented below is information related to Novak Manufacturing Corporation. Asset Estimated Life (in years) Cost $44,900 33,200 35,700 19,800 24,500 Estimated Salvage $6,200 4,400 3,300 2,300 3,200 (a) Your answer is correct. Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, .g. 4.839.) Composite rate 10.57% Click If you would like to show Work for this questions Open Show Work Prepare the entry to record the sale of asset D for cash of $5,200. It was used for 6 years, and depreciation was entered under the composite method. (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 Cashq 52001T TAccumulated Depreciation 16720 21920 Plant Assets Click if you would like to show Work for this questioni On Show Work