Part B. Applying the Cost Approach to an Older Omaha Home Using Alternative Depreciation Approaches. Use the cost approach to estimate the market value of the following Omaha home for which replacement cost data has already been obtained through Marshall and Swift cost data service while using 3 alternative depreciation approaches (Straight line, depreciation, life-cycle depreciation as estimated by Marshall and Swift, and unit in place depreciation estimates as calculated by a building inspector who evaluated all interior/exterior features of the home in person. To complete this, use the following information for the home and enter the requested cost information into the three URAR type tables contained on the next page. Finally, answer a few follow up question at the end Home Details: Recent Sales Price of the Home: $350,000 AGLA: 1700 SFT Basement Finished SFT:1000 Basement Unfinished SFT: 700 Garage SFT: 400 Replacement Cost New Values: AGLA: $120/sft Finished Basement: $60/SFT Unfinished Basement and Garage Areas: $25/sft Site Improvement Value (already depreciated): Retaining Wall: $3000 Deck: $10,000 Shed $2000 Lot value: $70,000 (estimated market extraction: comparable lot sales) Straight Line Depreciation Data: Age of Home: 8 years Expected Life Expectancy: 40 years Proprietary Marshall and Swift Depreciation based on straight line depreciation adjusted for expected repairs and upgrades made on these types of homes in this zipcode: 16% Unit in-place Depreciation based on a building inspectors on site observations of the condition of interior and exterior home feature: 8% 1) URAR Cost Approach Table (Straight Line Depreciation) A) Replacement Cost New (RCN) SFT $/SFT RCN -AGLA 1,700 120 $204,000 -Basement Finished 1,000 60 60,000 -Basement Non-Finished 700 25 17,500 -Garage 400 25 10,000 RCN Total (combined) ---- ---- 291,500 B)Depreciation: ___% $ $ Physical Depreciation C) Depreciated Structural Replacement Value 15,000 D) Lot Value 70,000 $ As Is Value of Site Improvements $ Indicated Value by Cost Approach $ 2) URAR Cost Approach Table (Life Cycle Depreciation by Marshall & Swift) A) Replacement Cost New (RCN) SFT $/SFT RCN -AGLA $ -Basement Finished -Basement Non-Finished -Garage RCN Total (combined) ---- ---- B)Depreciation: % ___ $ $