Real Estate Math
A South Carolina property has a replacement cost new of $450,000, accumulated depreciation of $90,000, and land value of $75,000. What is the value using the cost approach?
A$360,000
B$375,000
C$435,000✓ Correct
D$450,000
Explanation
Cost approach value = Replacement Cost New − Depreciation + Land Value = $450,000 − $90,000 + $75,000 = $435,000.
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