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nce are estimated at $4,000, $9,750 and 2000, respectively on. The value of the land is estimated to be $37,000. Addi ed for improvements including driveway, walks, and lands lue of the property using the cost approach?

nce are estimated at $4,000, $9,750 and 2000, respectively on. The value of the land is estimated to be $37,000. Addi ed for improvements including driveway, walks, and lands lue of the property using the cost approach?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Reproduction cost has been estimated at $55 per square ft. with a 1500 sq ft. for a property at 155 Potter Drive. The current curable depreciation, incurable depreciation, and functional obsolescence are estimated at $4,000, $9,750 and 2000, respectively. There was no external depreciation. The value of the land is estimated to be $37,000. Additional amount of $8,000 will be required for improvements including driveway, walks, and landscaping. What is the estimated market value of the property using the cost approach?
Transcribed Image Text:Reproduction cost has been estimated at $55 per square ft. with a 1500 sq ft. for a property at 155 Potter Drive. The current curable depreciation, incurable depreciation, and functional obsolescence are estimated at $4,000, $9,750 and 2000, respectively. There was no external depreciation. The value of the land is estimated to be $37,000. Additional amount of $8,000 will be required for improvements including driveway, walks, and landscaping. What is the estimated market value of the property using the cost approach?
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