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Sally's cat causes Mike to sneeze.Sally values her cat's companionship at $300 per year.The cost to Mike of tissues and her allergy medication is $350 per year.Based on the Coase theorem,
Units-Of-Activity
A method of depreciation that allocates the cost of an asset over its useful life based on its activity level, such as miles driven or hours used.
Salvage Value
The estimated resale value of an asset at the end of its useful life; it is used in calculating depreciation expense.
Depreciation
The orderly apportionment of a physical asset's cost throughout its useful life.
Useful Life
The estimated period an asset is expected to be used before it is deemed no longer useful for operations.
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