Use the following information for questions 84 and 85:
A schedule of machinery owned by Micco Co. is presented below: Micco computes depreciation by the composite method.
-The composite rate of depreciation (in percent) for these assets is

Question

Use the following information for questions 84 and 85:
A schedule of machinery owned by Micco Co. is presented below:  Micco computes depreciation by the composite method.
-The composite rate of depreciation (in percent) for these assets is

Quizplus · Accepted Answer

The composite rate of depreciation is calculated by taking the weighted average of the depreciation rates of individual assets. Based on the given options, 8.94% is the correct composite rate.

Use the Following Information for Questions 84 and 85