Real Estate Math
A house has a living area of 2,400 square feet. The cost per square foot for new construction is $145. What is the replacement cost of the structure?
A$318,000
B$334,500
C$348,000✓ Correct
D$366,000
Explanation
Replacement cost = 2,400 sq ft × $145/sq ft = $348,000. Using the values given ($145), apply the appropriate formula..
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