Complex sentence: Assuming that a depreciable asset will be replaced by its owner, each time it reaches the end of its useful lifetime, the present expense of asset ownership can be determined by discounting each of the cash outflows resulting from replacement.
Split into simpler sentences: Assuming that a depreciable asset will be replaced by its owner, each time it reaches the end of its useful lifetime. The present expense of asset ownership can be determined by discounting each of the cash outflows resulting from replacement.