Question 4 Part b (5 marks) You are assessing the value of a property for Financial reporting purposes and are using the depreciated replacement cost. The 1550 som building 67 years old and has an expected title of 25 years. There's not expected to be any positive salvage residual) vatue at the end of the buildings tife with the recoverable materials covering the cost of demolition. The current replacement cost is $1100/sqm. The building uits on a 3100 som site, and this was purchased 7 years ago for S1750000 and has a current market value of $620 som bestimated that the site wilt increase in value at the same annual rate, since the purchase of the property. Use straight line depreciation in your estate of the current fair value based on DRC) Round the answer to the nearest 1000 dollars but don't include the sign or any commas.e.g. for 324,000 enter 521000 Question 4 Part b (5 marks) You are assessing the value of a property for Financial reporting purposes and are using the depreciated replacement cost. The 1550 som building 67 years old and has an expected title of 25 years. There's not expected to be any positive salvage residual) vatue at the end of the buildings tife with the recoverable materials covering the cost of demolition. The current replacement cost is $1100/sqm. The building uits on a 3100 som site, and this was purchased 7 years ago for S1750000 and has a current market value of $620 som bestimated that the site wilt increase in value at the same annual rate, since the purchase of the property. Use straight line depreciation in your estate of the current fair value based on DRC) Round the answer to the nearest 1000 dollars but don't include the sign or any commas.e.g. for 324,000 enter 521000