Useful life is the number of years as set by the IRS that depreciable business equipment or property is expected to be in use.The IRS has a depreciation table for almost every item, including computers, vehicles, and other equipment.
Got Answer From: http://www.investopedia.com/terms/u/usefullife.asp
Got Answer From: http://www.investopedia.com/terms/u/usefullife.asp
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