In July 2017, Enviro-Spray Ltd purchased a crop dusting aircraft. The aircraft cost Enviro-Spray $750,000 and at the time of purchase had been used for 4 years. In November of the same year the aircraft was required by the aviation regulations to undergo a major

| November 30, 2018

In July 2017, Enviro-Spray Ltd purchased a crop dusting aircraft. The aircraft cost Enviro-Spray $750,000 and at the time of purchase had been used for 4 years. In November of the same year the aircraft was required by the aviation regulations to undergo a major overhaul. This process was a standard requirement and involved the replacement of mechanical parts and various adjustments. The whole overhaul was completed at a cost of $75,000. In the course of the overhaul the engineer recommend …

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