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Straight-Line Depreciation
A method of calculating the depreciation of an asset by evenly spreading its cost over its useful life.
Salvage Value
The estimated resale value of an asset at the end of its useful life, used in calculating depreciation expense.
Depreciation Expense
Depreciation expense is the allocated portion of the cost of a fixed asset, recognized over its useful life, reflecting its decline in value.
Useful Life
The estimated period of time over which an asset is expected to be used by an organization before it is fully depreciated.
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