The comparative-unit method of estimated cost of construction would normally include

a) The cost to build a wall per linear foot, including the studs, drywall, paint, and trim

b) The cost of each and every detail of construction, including parts, labor, and builder profit

c) Data from a poll of buyer's opinions of the cost of construction

d) A cost amount based on a price per square foot of building area, basement area, etc.

If the subject improvement is in better-than-average condition,

a) The effective age is greater than the actual age

b) The effective age is less than the actual age

c) The actual and effective ages are the same

d) The actual age must be less than 20 years

The subject property is a 22-year-old building that just sold for $654,000 (cash). The estimated land

value (VL) is $250,000, and the value of the site improvements is $25,000. The cost of construction

is $675,000. What is the annual rate of depreciation on a percentage basis?

a) 1.0%

b) 2.0%

c) 3.0%

d) 4.0%

If an extraction of depreciation shows an annual depreciation percentage of 2.5% per year, what is

the indicated total economic life?

a) 25 years

b) 30 years

c) 35 years

d) 40 years