Recording Composite Depreciation Wilson Company owns the following machines, all acquired on January 1, 2020. Machine Original Cost Estimated Residual Value Estimated Life (Years) $9.800 14.000 1,680 25.200 2,800 10 26,600 1,400 $0 12 Required a. Prepare a schedule based on straight-line depreciation that shows for each machine the following: original cost, residual value, depreciable cost, life in years, and annual depreciation. Original Residual Depreciable Life in Annual Machine Cost Value Cost Years Depreciation Total b. Compute the composite depreciation rate (based on cost) and the composite lite. Note: Round both amounts to four decimals. Composite depreciation rate Composite life c. Prepare the entry to record 2020 composite depreciation. Account Name Dr. Cr. Date Dec 31, 2020