Property Valuation
A Nevada property has a replacement cost of $300,000 for improvements and 20% depreciation. If the land is worth $80,000, what is the cost approach value?
A$220,000
B$300,000
C$320,000✓ Correct
D$380,000
Explanation
Depreciated improvement cost = $300,000 × (1 - 0.20) = $300,000 × 0.
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