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Salvage Value
The foreseen redemption value of an asset after its period of usability concludes.
Useful Life
The estimated time period that an asset is expected to be usable for its intended purpose.
Equipment Cost
The total amount spent to acquire, install, and prepare equipment for its intended use, including purchase price and associated expenses.
Periodic Depreciation
The allocation of the cost of a tangible asset over its useful life in a periodic manner, typically done for accounting and tax purposes.
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