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Appraised Fair Value
The estimated market value of an asset based on the judgment of a qualified appraiser at a specific time.
Cost
The value of economic resources used or the amount of expenditure incurred to acquire or produce a good or service.
Book Value
The net value of an asset as recorded on the balance sheet, calculated by subtracting any associated depreciation or amortization from its cost.
Property
Assets or possessions owned by an individual or company, encompassing both tangible and intangible assets.
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