Real Estate Math
A New Mexico home has been depreciated for tax purposes at $7,500/year. After 10 years, what is the accumulated (book) depreciation?
A$7,500
B$50,000
C$75,000✓ Correct
D$100,000
Explanation
Accumulated depreciation = Annual depreciation × Years = $7,500 × 10 = $75,000. Using the values given ($7,500), apply the appropriate formula.. The correct answer is $75,000.. This is a common calculation on the New Mexico real estate exam.
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