Property Valuation
An appraiser estimates a home's replacement cost new at $350,000, total depreciation of 25%, and land value of $80,000. What is the cost approach value?
A$322,500
B$342,500✓ Correct
C$345,500
D$262,500
Explanation
Depreciated building value = $350,000 x (1 - 0.25) = $350,000 x 0.
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