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Book value – amount carried on the balance sheet after accounting for depreciation
MEAV) method of reporting provides the most accurate cost of replacement today
Inflated TCA costs are not always equivalent to a modern replacement cost (MEAV)
The TCA replacement value is the cost to replace the asset with the same asset as originally built/procured i.e “like for like”
The TCA does not include any incremental costs that may be associated with subsequent changes and improvements in technologies, enhancements etc.