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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

useful life  

Definition 1.

The length of time that a depreciable asset is expected to be useable.
 

Definition 2.

The expected period of time during which a depreciating asset will be productive.
 

Definition 3.

The number of years, as set by the IRS, that depreciable business equipment or property is expected to be in use.
 
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