Real Estate Math
A Delaware property has land value of $80,000 and improvements with a replacement cost of $320,000. The improvements have accumulated depreciation of 30%. What is the total estimated value using the cost approach?
A$304,000✓ Correct
B$400,000
C$320,000
D$224,000
Explanation
Depreciated improvement value = $320,000 × (1 − 30%) = $320,000 × 0.70 = $224,000.
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