Property Valuation
The economic life of an improvement is:
AThe physical life of the structure
BThe period during which the improvement contributes positively to the property's value✓ Correct
CThe period until the structure must be demolished
DThe number of years since construction
Explanation
Economic life is the period during which an improvement (structure) makes a positive contribution to property value. It is typically shorter than the structure's physical or actual life.
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