N.Y. Comp. Codes R. & Regs. Tit. 10 § 451.232 - Replacement cost
(a)
The cost of an acquired asset or asset part, capitalizable if the cost of its
retired counterpart is removed from the asset account.
(b) The cost at current prices, in a
particular locality or market area, of replacing an item of property or a group
of assets.
Notes
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