Environmental
In Alaska, a property's value may be reduced if it is located in a 'tsunami runup zone.' This type of value reduction is most accurately classified as:
APhysical deterioration
BExternal obsolescence due to the property's geographic risk exposure✓ Correct
CFunctional obsolescence
DCurable depreciation
Explanation
Tsunami runup zone risk is a negative external condition — it is caused by the property's geographic location relative to coastal hazards, not by the property's physical condition or design. This creates external obsolescence — a loss in value caused by factors outside the property's boundaries.
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