(Answered) At the beginning of year 1 herkimer amp co purchases a

Accounting

At the beginning of Year 1, Herkimer & Co. purchases a group of 7 laptops for its new hires. The laptops are purchased for $2,300 each with a residual value of $500 each. Herkimer & Co. expects the laptops to be used for three years.
Compute the depreciation rate per year for the group.

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