Real Estate Math
A North Dakota property has a cost new of $350,000 and accumulated depreciation of $70,000. What is the depreciated value of the improvements?
A$210,000
B$245,000
C$280,000✓ Correct
D$315,000
Explanation
Depreciated value = Cost new − Accumulated depreciation = $350,000 − $70,000 = $280,000. Using the values given ($350,000, $70,000), apply the appropriate formula..
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