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|One of many types of life concepts associated with
value and eventual renewal
Textbook life is the typical service life of a particular class of assets, usually expressed in terms of calendar years, indicated in publicly accessibly literature, and usually presented in one of the following forms:
The textbook life is often based on statistical averages for similar assets in standard exposure conditions and under controlled operating conditions.
Included below is a simple examples of textbook lives listed in an service life table that indicates the name of the asset, the typically service life and the source of data:
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