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That the replacement cost of the equipment

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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?

Reference no: EM131128011

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