What is ANNUAL DEPRECIATION? Definition of ANNUAL DEPRECIATION in Black's Law Dictionary
The annual loss, not restored by current maintenance, which is due to all the factors causing the ultimate retirement of the property. These factors embrace wear and tear, decay, inadequacy, and obsolescence. The annual loss in service value not restored by current maintenance and incurred in connection with the consumption or prospective retirement of property in the course of service from causes known to be in current operation, and whose effect can be forecast with a reasonable approach to accuracy. State v. Hampton Water Works Co., 91 N.H. 278, 18 A.2d 765, 770.
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