1. A house with a total living area of 3,000 square feet would cost $80 per square foot to reproduce new. It has an expected economic life of 100 years and is estimated to have an effective age of 5 years. The lot has a market value of $35,000. What is the estimated value of the property using the cost approach?

2. Consider the following market sales:

	Bldg A	Bldg B	Bldg C
Price	$1,000,000	$1,500,000	1,250,000
Gross income	$100,000	$150,000	125,000

3. If 5% of jobs in northeast Tennessee are in industry j and 7% of the jobs in the nation are in industry j, what is the location quotient for industry j?