How do we handle the outstanding Depreciation and Amortization.
we have a 20 year lease and we have determine that it is a Capital lease. AT the end of year 14, we decide to end the lease and purchase the asset at FMV. How do we handle the outstanding Depreciation and Amortization.Do we have to start depreciation for the purchase at the remaining life of the useful life?or do we need to take into consideration that we might have to continue with the previous depreciation.
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