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Referring to the exhibit, which statement is true?
Class
A category or grouping used to organize items, objects, or concepts based on shared characteristics or attributes.
Declining-Balance Depreciation
A method of depreciation that results in larger depreciation expenses during the earlier years of an asset's life and smaller charges in the later years.
Straight-Line Depreciation
A method of computing depreciation for accounting purposes where an asset's cost is reduced uniformly over its useful life.
Tax Savings
Reduction in tax payments achieved through allowable deductions, credits, or adjustments.
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