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Define what is the estimated market value of the property

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Reference no: EM131730253

Reproduction cost has been estimated as $350,000 for a property with a 70-year economic life. The current effective age of the property is 15 years. The value of the land is estimated to be $55,000. What is the estimated market value of the property using the cost approach, assuming no external or functional obsolescence?

Reference no: EM131730253

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