Real Estate Math
A Connecticut property has land value of $120,000 and improvement value (after depreciation) of $310,000. Using the cost approach, what is the total value?
A$310,000
B$380,000
C$390,000
D$430,000✓ Correct
Explanation
Total value = Land value + Depreciated improvement value = $120,000 + $310,000 = $430,000. Using the values given ($120,000, $310,000), apply the appropriate formula..
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