Property Valuation
In the cost approach to value, the appraiser estimates the value of the land:
AAs if it were vacant and available for its highest and best use✓ Correct
BBased on the current improvements
CUsing the income capitalization method
DBy comparing it to other improved properties
Explanation
In the cost approach, land is valued separately as if vacant and available for its highest and best use. This land value is then added to the depreciated cost of improvements.
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