Real Estate Math
A Kansas property appraised at $285,000 has a replacement cost of $265,000 and accumulated depreciation of $35,000. What is the indicated value using the cost approach?
A$230,000✓ Correct
B$250,000
C$265,000
D$285,000
Explanation
Cost approach value = Land Value + (Replacement Cost – Depreciation). If land = $285,000 - $265,000 + $35,000...
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