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A contract for labor and materials to be enforceable, even though it involves $500 or more:
Double-Declining-Balance Depreciation
A method of accelerated depreciation where the asset's book value is reduced at double the rate of traditional straight-line depreciation.
Straight-Line Depreciation
A method of allocating an asset's cost evenly across its useful life.
Income Tax Rate
This is the percentage at which an individual or corporation is taxed on their income.
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