Property Valuation
External (economic) obsolescence is unique among types of depreciation because it is:
AAlways curable by renovation
BCaused by factors outside the property, making it incurable✓ Correct
COnly applicable to commercial properties
DMeasured by the replacement cost method
Explanation
External obsolescence results from factors outside the property (nearby industrial use, rising crime, new highway noise). Because the cause is external, it is incurable.
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