Question
Replacement cost for the house you want to purchase has been estimated as $300,000 with the subject property (built in 2005) having a 75-year economic
Replacement cost for the house you want to purchase has been estimated as $300,000
with the subject property (built in 2005) having a 75-year economic life. The land value is estimated to be $125,000. Calculate the Estimated Market Value of the property using the Cost approach, assuming no external or functional obsolescence.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
