Real Estate Math
A Maryland property's land is valued at $80,000 and the building (depreciated) is valued at $220,000. The total estimated value via the cost approach is:
A$80,000
B$220,000
C$300,000✓ Correct
D$320,000
Explanation
Cost approach value = Land value + Depreciated building value = $80,000 + $220,000 = $300,000. Using the values given ($80,000, $220,000), apply the appropriate formula.. The correct answer is $300,000.. This is a common calculation on the Maryland real estate exam.
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