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A 48-year old single-family home in Scarborough sold for $ 730,000. Sales comparison data for this market reveals that the site is worth about $360,000.

A 48-year old single-family home in Scarborough sold for $ 730,000. Sales comparison data for this market reveals that the site is worth about $360,000. The replacement cost new for the home is $580,000. The effective age of the home is 20 years.


a) What is the annual depreciation amount of the structure?


b) What is the total economic life of the above structure?


c) What is the remaining economic life of the above structure?

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