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What is the purpose of depreciation? Does this necessarily mean that the fixed assets purchased are continuing to lose value? Do capital assets receive a

What is the purpose of depreciation? Does this necessarily mean that the fixed assets purchased are continuing to lose value? Do capital assets receive a preferential tax treatment when they are bought or sold? Describe at least two scenarios where it would be beneficial for a taxpayer not to claim depreciation on a qualified property or piece of equipment?

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