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?ANSWER BOTH QUESTIONS. THANK YOU What is the economic life of an asset? the service life that accounts for the costs of an asset replacement

image text in transcribed ?ANSWER BOTH QUESTIONS. THANK YOU

What is the economic life of an asset? the service life that accounts for the costs of an asset replacement the service life that minimizes the marginal cost of an asset the service life that maximizes revenues generated by an asset the service life that minimizes the average cost of an asset over time the service life that minimizes the cost of replacing the asset

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