Please tell me the reason.

If buildings are torn down and replaced on average every 75 years, and site acquisition costs are typically 25% of total development costs, then the average annual rate of property depreciation below the HBU value of the site is: (a) 0.0%/yr. (b) 1.1%/yr. (C) 1.8%/yr. (d) 2.2%/yr