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An industrial engineer, who was formerly a real estate developer, wants to estimate the construction costs of an apartment complex that they intend to build.

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An industrial engineer, who was formerly a real estate developer, wants to estimate the construction costs of an apartment complex that they intend to build. They gathered the following information: If the total construction cost of the similar property was $2.5 million in the reference year, what is their estimated construction cost in the current year

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