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1. Which of the following statements is TRUE? (1) Capitalization techniques are never employed in the cost and direct comparison approaches. (2) Market value and

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1. Which of the following statements is TRUE? (1) Capitalization techniques are never employed in the cost and direct comparison approaches. (2) Market value and investment value are synonymous. (3) The expectations of receiving a return on capital represent the time value of money with an appropriate adjustment for risk. (4) Inflation and appreciation have similar effects on future dollars and discount rates

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