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3. Both the Furniture & Fittings and the Delivery Vans are expected to be used evenly over their useful lives. The expected total useful lives

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3. Both the Furniture & Fittings and the Delivery Vans are expected to be used evenly over their useful lives. The expected total useful lives and residual values of both assets is as follows: Estimated Useful life Estimated Residual Furniture & Fittings 10 years $5,000 Delivery Vans 8 years $80,000

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