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A simple nervous system
Opportunity Cost
The economic consequence of not opting for the immediate secondary option when a decision is made.
Salvage Value
An approximation of an asset's value at the conclusion of its effective lifespan.
Erosion Cost
The gradual loss of asset value due to factors like wear, tear, and technological obsolescence, affecting long-term profitability.
Depreciation
The planned apportionment of the price of a tangible asset across its operational lifetime.
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