Recording Composite Depreciation Wilson Company owns the following machines, all acquired on January 1, 2020. Machine Original Cost Estimated Residual Value Estimated Life (Years) $22,400 10 32,000 3340 " C 57,600 6,400 10 D 60.800 3.200 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 Machine Cost Value Cost Years Annual Depreciation C D Total b. Compute the composite depreciation rate (based on cost) and the composite afe Note: Enter the answer rounded to four digits after the decimal, for example, enter 1:4424 for 1.44244, or 1.4425 for 1.44245 Composte depreciation rate Composte Prepare the entry to record 2020 composite depreciation Date Dec 31, 2020 Account Name Dr. Cr.