Property Valuation
A Colorado appraiser calculates the value using the cost approach as follows: land value $80,000; replacement cost new $350,000; accrued depreciation 20%. What is the indicated value?
A$280,000
B$350,000
C$360,000✓ Correct
D$430,000
Explanation
Depreciated building value = $350,000 × (1 − 0.20) = $350,000 × 0.
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