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Fair Value
The estimated price at which an asset or liability could be exchanged between knowledgeable and willing parties in an arm's length transaction.
Double Declining-Balance Depreciation
A method of accelerated depreciation which doubles the normal depreciation rate that would be applied to an asset under the straight-line method.
Depreciation Expense
An accounting method of allocating the cost of a tangible asset over its useful life.
Second Year
Refers to the second year of a specific period, such as an academic program, fiscal period, or any defined timeframe.
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