Real Estate Math
A Missouri home has a replacement cost new of $310,000. Accrued depreciation is 30%. Land value is $65,000. What is the value using the cost approach?
A$217,000
B$247,000
C$282,000✓ Correct
D$310,000
Explanation
Depreciated cost = $310,000 × (1 − 0.30) = $310,000 × 0.
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