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So what does this tell me ?

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This is one of the easiest subnets to conceptualize it is the same as a class C network with 256 addresses

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The owner of this network has the 256 addresses from

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Every Subnet has to allocate 2 addresses to overhead leaving 254 usable addresses

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The First Address is the Network ID Address

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The Last Address is the Broadcast Address

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The First Useable Address, Usually the Gateway

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The Last Useable Address, Usually a static Resource