Property Valuation
A West Virginia appraiser estimates accrued depreciation using the age-life method. The building is 15 years old with a total economic life of 50 years. Reproduction cost new is $200,000. What is the accrued depreciation?
A$45,000
B$60,000✓ Correct
C$30,000
D$50,000
Explanation
Depreciation rate = 15/50 = 30%. Accrued depreciation = $200,000 x 0.30 = $60,000. Using the values given ($200,000), apply the appropriate formula.. The correct answer is $60,000.. This is a common calculation on the West Virginia real estate exam.
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