Taser Company owns the following assets acquired on January 1, 2020. ...
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Accounting
Taser Company owns the following assets acquired on January 1, 2020.
Asset
Cost
Residual Value
Estimated Useful Life
A
$48,000
$800
10 years
B
12,000
-
5 years
C
70,000
1,600
8 years
a. Compute the composite annual depreciation rate. Enter the answer rounded to two digits after the decimal; for example, enter 1.42 for 1.424, or 1.43 for 1.425.
b. Compute the composite group useful life. Enter the answer rounded to two digits after the decimal; for example, enter 1.42 for 1.424, or 1.43 for 1.425.
c. Compute composite depreciation expense for 2020.
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