14. The cost approach to appraisal of a property's value is based on the idea that:

Select one:

a.

a property's value should be comparable to the sale prices of similar properties.

b.

an investor never pays more than what a property would cost to rebuild at today's prices.

c.

a property should be valued based on likely trends in areas like, demographics and psychographics

d.

a property value should be based on the present value of all future income