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Use the cost approach to value a SFR home based on the following characteristics and Data. The house is located on a 10,000 SFT lot and three nearby lot sales are as follows: 1) $98,000 for 14,000square feet and $63,000 for 9,000 square feet The House has 2800 of AGLA sft, 1,500 sft of finished basement and 1,300 sft of unfinished basement and 600 sqft of garage. Replacement cost new values from Marshall and Swift are: $110 (AGLA); $80 (Finished basement); $40 (unfinished basement and garage space) The House is 5 years old with an expected life span of 60 years The property also contains a brand new storage shed valued at $5000 and brand new swimming pool valued at $30,000 1 A) What is the lot value? B) What is the replacement cost new value of the home? C) How much is the home depreciated in both % and $? C) What is the depreciated structural replacement value of the home?

Use the cost approach to value a SFR home based on the following characteristics and Data. The house is located on a 10,000 SFT lot and three nearby lot sales are as follows: 1) $98,000 for 14,000square feet and $63,000 for 9,000 square feet The House has 2800 of AGLA sft, 1,500 sft of finished basement and 1,300 sft of unfinished basement and 600 sqft of garage. Replacement cost new values from Marshall and Swift are: $110 (AGLA); $80 (Finished basement); $40 (unfinished basement and garage space) The House is 5 years old with an expected life span of 60 years The property also contains a brand new storage shed valued at $5000 and brand new swimming pool valued at $30,000 1 A) What is the lot value? B) What is the replacement cost new value of the home? C) How much is the home depreciated in both % and $? C) What is the depreciated structural replacement value of the home?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter2: Building Blocks Of Managerial Accounting
Section: Chapter Questions
Problem 9EA: The cost data for Evencoat Paint for the year 2019 is as follows: Using the high-low method, express...
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Use the cost approach to value a SFR home based on the following characteristics and Data. The house is located on a 10O,000 SFT lot and three nearby lot sales are as follows: 1) $98,000 for 14,000square feet and $63,000 for 9,000 square feet The House has 2800 of AGLA sft , 1,500 sft of finished basement and 1,300 sft of unfinished basement and 600 sqft of garage. Replacement cost new values from Marshall and Swift are: $110 (AGLA); $80 (Finished basement); $40 (unfinished basement and garage space) The House is 5 years old with an expected life span of 60 years The property also contains a brand new storage shed valued at $5000 and brand new swimming pool valued at $30,000 1 A) What is the lot value? B) What is the replacement cost new value of the home? C) How much is the home depreciated in both % and $? C) What is the depreciated structural replacement value of the home? D) What are the additional improvement values? E) What is the final market value of the home based on the cost approach
Transcribed Image Text:Use the cost approach to value a SFR home based on the following characteristics and Data. The house is located on a 10O,000 SFT lot and three nearby lot sales are as follows: 1) $98,000 for 14,000square feet and $63,000 for 9,000 square feet The House has 2800 of AGLA sft , 1,500 sft of finished basement and 1,300 sft of unfinished basement and 600 sqft of garage. Replacement cost new values from Marshall and Swift are: $110 (AGLA); $80 (Finished basement); $40 (unfinished basement and garage space) The House is 5 years old with an expected life span of 60 years The property also contains a brand new storage shed valued at $5000 and brand new swimming pool valued at $30,000 1 A) What is the lot value? B) What is the replacement cost new value of the home? C) How much is the home depreciated in both % and $? C) What is the depreciated structural replacement value of the home? D) What are the additional improvement values? E) What is the final market value of the home based on the cost approach
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