Property Valuation
An appraiser calculates the cost to build a new structure identical to the subject using current prices. This is called:
AReplacement cost
BReproduction cost✓ Correct
CHistorical cost
DDepreciated cost
Explanation
Reproduction cost is the cost to build an exact replica using the same materials, design, and methods as the original structure, but at today's prices. It is used in the cost approach when the improvements are not typical of current construction practices.
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