Depreciation. Chapter 4. Depreciation. Allocating the expense of a resource which lasts > 1 year. e.g. tractors, barns, bulls, fences. Calculation Need to know: 1. Purchase Price – Cost 2. Useful Life – Life 3. Salvage Value – S.V. 4. Depreciation Method – Meth .
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Truck Price increases > $12,000 (inflation)
Anything lower is market value.
No opportunity costs