Real Estate Math
An Oregon property has a land value of $95,000 and improvements valued at $285,000 using the cost approach. Total accrued depreciation is $57,000. What is the property value under the cost approach?
A$323,000✓ Correct
B$380,000
C$285,000
D$227,000
Explanation
Cost approach value = Land + (Cost New − Depreciation) = $95,000 + ($285,000 − $57,000) = $95,000 + $228,000 = $323,000.
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