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Suppose we have an asset with an initial cost of 1 0 , 0 0 0 , a useful life of 5 years and an
Suppose we have an asset with an initial cost of a useful life of years and an estimated residual value of nil. The asset is now years old and therefore has a carrying value net book value of After years, the assets value is reviewed and its fair value is Show how the depreciation will be adjusted under the gross method and net method.
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