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Residual Value
The forecasted financial value of an asset as it approaches the close of its effective life.
Depreciation Method
A systematic approach for allocating the cost of a tangible asset over its useful life to account for wear and tear, decay, or obsolescence.
Straight-Line Method
A depreciation method that allocates the cost of an asset evenly over its useful life.
Depreciation
Distributing the cost of a physical asset methodically over its period of utility.
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