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A Note on the Cash-Flow Approach to Valuation and Depreciation of Productive Assets
Published online by Cambridge University Press: 19 October 2009
Extract
In his famous 1964 article, Paul A. Samuelson [1] presents what he calls “the only sensible definition of depreciation,” namely, the period change in the present value of future cash flows expected to be generated by an asset.
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- Copyright © School of Business Administration, University of Washington 1972
References
[1]Samuelson, Paul A. “Tax Deductibility of Economic Depreciation to Insure Invariable Valuation.” Journal of Political Economy, December 1964.CrossRefGoogle Scholar
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