View Policies Current Attempt in Progress Presented below is information related to Waterway Manufacturing Corporation. Asset Estimated Life (in years) 10 A Estimated Salvage $6.100 5,200 4.100 1.500 Cost $53.800 32.200 36,500 19.000 B 2 9 D 7 E 24.000 3.300 6 Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 4.83%) Composite rate eTextbook and Media Compute the rate of depreciation per year to be applied to the plant assets under the composite method. (Round answer to 2 decimal place, e.g. 4.83%) Composite rate eTextbook and Media List of Accounts 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 Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Use Plant Assets related account.) Account Titles and Explanation Debit Credit e Textbook and Media