Property Valuation
In the cost approach, reproduction cost refers to:
AThe cost to build a functionally equivalent structure using modern materials
BThe cost to construct an exact replica of the existing structure using the same materials and methods✓ Correct
CThe market value of the land
DThe insurance replacement cost
Explanation
Reproduction cost is the cost to build an exact duplicate of the existing improvements using the same materials, quality, and methods—as opposed to replacement cost, which uses modern materials and design.
Related Utah Property Valuation Questions
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