65. Using the cost services method, an appraiser has found that typical new homes in his area cost approximately $225 per square foot to build. The subject property being appraised is 5,000 square feet. What is the replacement cost?

$1,000,000

$1,012,500

$1,125,000

$1,250,000

None of the above

66. Using the flat-line method, the appraiser applied a 1.25 percent yearly depreciation rate over the five year effective age of the subject property from Question 65. What is the depreciation (rounded to the nearest dollar)?

$62,500

$70,313

$78,125

$81,250

None of the above

67. Using the cost approach, estimate the value of the subject property (rounded to the nearest dollar) from Questions 65 and 66 if the site value is estimated at $500,000.

$1,437,500

$1,450,000

$1,554,687

$1,695,313

None of the above