Property Valuation
Which appraisal approach uses the formula: Value = Land Value + (Replacement Cost New - Depreciation)?
ASales comparison approach
BIncome approach
CCost approach✓ Correct
DGross rent multiplier approach
Explanation
The cost approach estimates value by adding land value to the depreciated replacement cost of improvements. Formula: Value = Land Value + (Replacement Cost New - Accrued Depreciation).
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