Examlex
According to the tax formula,individuals can deduct the greater of for AGI deductions or from AGI deductions.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded against a fixed asset over its useful life to date.
Book Value
Represents the value of an asset according to its balance sheet account balance, calculated as the original cost less any depreciation, amortization, or impairment costs.
Salvage Value
The projected remaining value of an asset when it reaches the end of its operational lifespan.
Residual Value
The estimated value of an asset at the end of its useful life.
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