Replacement of the equipment

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Reference no: EM131022660

Tri-City Ironworks Co. reported $44,500,000 for equipment and $29,800,000 for accumulated depreciation-equipment on its balance sheet. Does this mean that the replacement cost of the equipment is $44,500,000 and that $29,800,000 is set aside in a special fund for the replacement of the equipment? Explain.

Reference no: EM131022660

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