Property Valuation
A Maine property has a replacement cost of $350,000 and total accrued depreciation of $87,500. The depreciated cost of improvements is:
A$262,500✓ Correct
B$437,500
C$350,000
D$175,000
Explanation
Depreciated cost = Replacement cost − Accrued depreciation = $350,000 − $87,500 = $262,500. Using the values given ($350,000, $87,500), apply the appropriate formula..
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