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D. On January 1,2018, the Garrett Gray Co. sequired three sssets that it ieteae to...

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Accounting

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D. On January 1,2018, the Garrett Gray Co. sequired three sssets that it ieteae to combine into a single account and depreclate using the composite depreciation (straight-line) method. The assets have the follewing characterieties Asset Cost Residual Yalss Life meunt Lasns 1 $60,000 $1,500 6years 3,800 8years 1,850 4 years 45,000 26.250 Total S Required: 1. Determine the composite rate for depreciation of these assets 2. Record the first year depreciation

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