![]() At the end of its five-year service, you could sell it for $150. ![]() ![]() Say your carnival business owns an industrial cotton candy machine that costs you $1,000 new. Salvage value is an asset’s estimated worth when it’s no longer of use to your business. ![]() The money I get back on my old phone is known as its salvage value, or its worth when I’m done using it. Replacing business assets looks similar to getting a new iPhone. It’s always a pleasant surprise when they hand me a couple of hundred dollars back to trade in my current one. Every few years, I go to the Apple store and turn my wallet upside down to get the newest iPhone. ![]()
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