5. A 2,400 square foot building has an remaining economic life of 55 years. Its current effective age is 15 years and the cost new is estimated at $102 per square foot. Land value is estimated at $38,000 and other site improvements is valued at $10,000. What would be the Accumulated Depreciation? What is the market value of the property using cost method? Final Cost Approach Analysis Replacement Cost of House Depreciation (Physical) Replacement Cost of House adjusted for depreciation Site Value Other site Improvements Indicated Value by Cost Approach