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Which of the following statements is correct? A state or local government is required to depreciate its infrastructure capital assets. A capital project that is

  1. Which of the following statements is correct?

  1. A state or local government is required to depreciate its infrastructure capital assets.
  2. A capital project that is unfinished at the end of the year is reported in the capital asset note as construction in progress.
  3. A and B.
  4. Neither A nor B.

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