Calculate the composite rate and composite life through use of the straightline method of depreciation for the following group of assets:
|
Asset
|
Original
Cost ($)
|
Scrap
Value ($)
|
Useful Life
(years)
|
|
1
|
2,600
|
200
|
4
|
|
2
|
3,800
|
450
|
12
|
|
3
|
6,400
|
380
|
11
|
|
4
|
5,750
|
590
|
8
|
|
5
|
8,100
|
1,200
|
10
|