Bonita Inc. owns the following assets. Asset A B C Cost $70,900 51,400 Save forlat 89,380 Salvage Estimated Useful Life $7,090 Composite life 5,140 4,360 Composite depreciation rate Compute the composite depreciation rate and the composite life of Bonita's assets. (Round answers to 1 decimal place, e.g. 4.8% or 4.8 years.) 10 years 5 years years 12 % years
Bonita Inc. owns the following assets. Asset A B C Cost $70,900 51,400 Save forlat 89,380 Salvage Estimated Useful Life $7,090 Composite life 5,140 4,360 Composite depreciation rate Compute the composite depreciation rate and the composite life of Bonita's assets. (Round answers to 1 decimal place, e.g. 4.8% or 4.8 years.) 10 years 5 years years 12 % years
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bonita Inc. owns the following assets.
Asset
A
B
C
Cost
$70,900
51,400
89,380
Save for Later
Salvage Estimated Useful Life
$7,090
Composite life
5,140
4,360
Compute the composite depreciation rate and the composite life of Bonita's assets. (Round answers to 1
decimal place, e.g. 4.8% or 4.8 years.)
Composite depreciation rate
10 years
5 years
12 years
%
years
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