Property Valuation
A Washington property's land value is $120,000 and the building's depreciated value is $280,000. Under the cost approach, the indicated value is:
A$160,000
B$280,000
C$400,000✓ Correct
D$560,000
Explanation
In the cost approach, Value = Land Value + Depreciated Building Value = $120,000 + $280,000 = $400,000.
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