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Life expectancy is not correlated with income per capita.
Machinery and Equipment
Fixed assets used in the operations of a business that are expected to be used for multiple years.
Ordinary Maintenance
Routine maintenance and repairs necessary to keep property (equipment, buildings, etc.) in efficient operating condition.
Asset Improvements
Expenditures made to increase the utility or extend the useful life of an asset.
Extraordinary Repairs
Repairs that are infrequent, large in scope, and extend the useful life of an asset beyond its original estimate.
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