Property Valuation
In the cost approach, the 'reproduction cost' is the cost to build:
AA functionally equivalent building with modern materials and methods
BAn exact replica of the existing building using the same materials and methods as originally used✓ Correct
CThe least expensive building meeting current code requirements
DAny building of similar size regardless of features
Explanation
Reproduction cost is the cost to create an exact replica of the subject building using the same materials, design, and construction methods as the original. Replacement cost uses modern materials and design to achieve the same utility.
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