Real Estate Math
A property has 3,500 sq ft of living space. At $95 per square foot, what would be the estimated replacement cost?
A$322,500
B$332,500✓ Correct
C$330,000
D$315,000
Explanation
Replacement cost = 3,500 sq ft x $95/sq ft = $332,500. Using the values given ($95), apply the appropriate formula.. The correct answer is $332,500.. This is a common calculation on the Oklahoma real estate exam.
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