(composite depreciation) presented below is information related to lebron james manufacturing corporation. instructionsasset cost estimated salvage estimated life (in years)a $40,500 $5,500 10b 33,600 4,800 9c 36,000 3,600 9d 19,000 1,500 7e 23,500 2,500 6(a) compute the rate of depreciation per year to be applied to the plant assets under the composite method.(b) prepare the adjusting entry necessary at the end of the year to record depreciation for the year. (c)prepare the entry to record the sale of asset d for cash of $4,800. it was used for 6 years, and depreciation was entered under the composite method.