Question
12. A corner lot with commercial zoning currently is improved with a residential dwelling. You are provided with the following information for the property:
12. A corner lot with commercial zoning currently is improved with a residential dwelling. You are provided with the following information for the property: Improved Value - $150,000 As if Vacant Value - $200,000 Demolition Cost - $25,000 Based upon the above information, and assuming that demand for commercial sites in the marketplace is immediately recognized, determine the appropriate highest and best use recommendation and provide the math calculations in support of your recommendation. (3 points)
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
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