A water tank cleaned and painted inside capitalized or expensed.
This water tank supplies water for a mobile home park.
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Thank you for clarity! The inside was cleaned and painted.
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Cleaning and painting sounds like an expense to me.
Well the expense is $ 11,800.00.
The cost doesn't change what it is.
Was it painted or sealed? Tank "diving" is a routine maintenance activity. Sealing would extend the life of the tank.