(Answered) Legacy ironworks co reported 3175000 for equipment and

Accounting

Legacy Ironworks Co. reported $3,175,000 for equipment and $2,683,000 for accumulated depreciation-equipment on its balance sheet.

Does this mean.

(a) That the replacement cost of the equipment is $3,175,000 and

(b) That $2,683,000 is set aside in a special fund for the replacement of the equipment?

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