provide explanations please

Presented below is information related to LeBron James Manufacturing Corporation. 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%.) 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 0 for the amounts. Credit occount titles are automatically indented when amount is entered, Do not indent manually. Use Plant Assets related account. List debit entry before credit entry)