94.575.  Definitions. — The following words, as used in sections 94.575 to 94.577, shall mean:

  (1)  "Capital asset" or "fixed asset", assets of a long-term character that are intended to continue to be held or used, including but not limited to land, buildings, machinery, furniture, and other equipment, including computer hardware and software;

  (2)  "Capital improvements", any capital or fixed asset having an estimated economic useful life of at least two years.