Tonyo Company uses the composite method of depreciation and has a composite rate of 25%. During 20x1, it sold assets with an original cost of 100,000 (residual value of 20,000) for 80,000 and acquired 60,000 worth of new assets (residual value of 10,000). The original group of assets had the following characteristics:Total Cost250,000Total Residual Value30,000

The above original group includes the assets sold in 20x8 but not the assets purchased in 20x8. How much is the depreciation in 20x8? a. 62,500 b. 52,500 c. 47,500 d. 46,500