If one is acquiring an asset heavy business based off a multiple of EBITDA how do both parties account for a situation in which the business recently purchased assets that have a lot of useful life left? For example let’s say you’re buying a business for 4x $500k EBITDA and the owner bought 10 new trucks for $500k 2 years ago. Trucks have 10 year useful life so there is ~$400k left on BS. I understand the expense of the purchase isn’t captured in this years EBITDA (aside from depreciation add back), but surely you’d value this business a bit differently than a business in which those 10 trucks were old and had 1-2 years of useful life left before needing to be replaced. How is this normally handled? Thanks for any input.