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Salvage value is: Multiple Choice
a.A factor relevant to determining depreciation under MACRS.
b.A factor relevant to determining depreciation that cannot be revised during an asset's useful life.
c.An estimate of the asset's value at the end of its benefit period.
d.Not a factor relevant to determining depletion.
e.A factor relevant to amortizing an intangible asset with an indefinite life.

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Answer:

Option C is the answer - An estimate of the asset's value at the end of its benefit period

Explanation:

Salvage value (also known as scarp value or residual value) is an estimated book amount an asset is worth when its useful life comes to an end. A higher value can be quoted when an asset is sold off before the end of its beneficial life and a zero rating is usually stated when the asset is being used for a longer period of time. Depreciation schedule calculation do have the salvage value as its significant component.

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