Real Estate Math
A Wyoming building has a replacement cost new of $650,000, physical depreciation of $130,000, and land value of $95,000. What is the estimated value using the cost approach?
A$615,000✓ Correct
B$520,000
C$745,000
D$455,000
Explanation
Value = Land Value + (Replacement Cost New − Depreciation) = $95,000 + ($650,000 − $130,000) = $95,000 + $520,000 = $615,000.
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