Full text: Valuation, depreciation and the rate base

FUNDAMENTAL PRINCIPLES 37 
although original cost and age may frequently be valuable aids 
in making an estimate thereof. 
23. Whenever the current replacement requirement or de- 
preciation are to be estimated, due consideration must be given 
to the fact that the actual period of usefulness of perishable 
articles rarely coincides with their probable term of life. 
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