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1. What reservations might you have as to the engineers' estimate of useful life? Why might any estimate of a highway's useful life be suspect?

2. In 2013 the engineers determined that the county would have to incur $1 million in resurfacing costs every four years to preserve tdhe highway in the same condition as it was when the road was completed. In 2013 the county spent $1 million to resurface the highway. Prepare the entries, including that for firt year depreciation, that the county should make.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976829

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