Property Valuation
An appraiser is valuing a Connecticut office building and selects four comparable sales. Comparable A sold for $1,200,000, B for $1,350,000, C for $1,150,000, and D for $1,280,000. If the appraiser assigns equal weight to all four, the indicated value is approximately:
A$1,200,000
B$1,245,250✓ Correct
C$1,280,000
D$1,350,000
Explanation
The average of the four sales: ($1,200,000 + $1,350,000 + $1,150,000 + $1,280,000) ÷ 4 = $4,980,000 ÷ 4 = $1,245,000. The
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