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What is the depreciation rate? and the salvage value? explain thank you
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As per requirement,

The Depreciation rate is the rate expressed in percentage at which the concerned fixed asset’s book value is reduced every year during its estimated useful life. This rate is calculated to create a provision towards repurchase of the fixed asset in future period after the useful life of present fixed asset. Many times this depreciation rate is fixed as per Income tax declared depreciation rate of various fixed assets.

Salvage value is the estimated value of the concerned fixed asset after the end of its useful life at which it would be sold. It is estimated towards calculation of depreciable value of cost through deducting of the same from the Cost of the concerned asset.

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