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Accumulated Depreciation
The cumulative depreciation expense charged for a fixed asset since its initial use.
Fair Market Value
The price at which an asset would change hands between a willing buyer and seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded against a fixed asset, over its useful life, up to the current date.
Salvage Value
The estimated value that an asset will realize upon its sale at the end of its useful life, used in calculating depreciation.
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