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illogical. If I buy a beat up holden for $5,000, I gain an asset...

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    illogical.

    If I buy a beat up holden for $5,000, I gain an asset worth $5,000 and lose case asset of $5,000.

    Sure, I may intend to fix this holden and make it worth $50,000, but at the time of acquisition the beat up holden is still only worth $5,000.
 
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