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Placed In Service
The point in time when an asset is ready and available for its intended use, often marking the start of depreciation or amortization for accounting purposes.
Depreciable Cost
The total cost of an asset that is subject to depreciation, including purchase price and any additional expenses to bring the asset to its intended use, minus salvage value.
Straight-Line Depreciation
An approach to apportion the value of a tangible asset across its productive years in uniform yearly sums.
Estimated Useful Life
The expected timeframe during which an asset is considered to be useful or productive for its intended purpose.
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