You are tasked with evaluating a property that had gone through some modifications with the following dimensions. The living room, bedroom and kitchen were remodeled where the cost of remodeling per square footage are $200,$150 and $300 for the bedroom, living room and kitchen respectively. The square footage are 500,700 and 400 for the bedroom, living room and kitchen respectively. The rate of depreciation to the improvements every year is 3%. All improvements were made 5 years ago. The unit comes with a fireplace which the prospective buyer wants removed. Removing the fireplace costs $2,000. The property lot is valued at $50,000 and its net upkeep cost (depreciated site improvements) is $3,000. Calculate the indicated value for this property