Information for heterogeneous assets A, B, and C of America Health and Fitness Club is provided below. The company uses composite depreciation for these assets. 
Required:
a.Calculate the composite depreciation rate.
b.Journalize the sale of Asset C for $28,000 after two full years of use.
Definitions:
Carpet Manufacturer
A company that specializes in the design, production, and distribution of carpets and rugs for various applications.
Carpet Dealer
A business or individual specialized in selling carpets, often offering a range of designs, materials, and sizes.
Vertical Integration
The strategy of a company expanding its operations into different stages of production or distribution within the same industry, often to control the supply chain or reduce costs.
Joint Venture
A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task.
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