Name: Student LD. Part B Problem Solving Subiect Props- The subject property has a modem and efficient commodity storage facility that has been well maintained and received recent renovation. The subject's actual age is 15 years and its effective age is 12 years. Based on market data, the current land value is $775,000. Replacement Cost New of the facility improvement is $1,550,000. External obsolescence does not impact the subject. Market Data Following is information about two local properties with similar commodity storage facility improvements that have sold recently. The properties had no other improvements. External obsolescence does not impact either sale. Sale 1 sold recently for $2,175,000. Land value at the time of sale was $1,075,000. RCN (Replacement Cost New} of the commodity storage facility improvements at the time of sale was $1 33,500. Actual age of the facility improvements at the time of sale was 12 years and, due to deferred maintenance {normal maintenance that has not been done), the estimated effective age was 16 years. Sale 2 sold recently for $1 50,000. Land value at the time of sale was $015,000. RCN (Replacement Cost New) of the commodity storage facility improvements at the time of sale was $1,700,000. At the time of sale the actual age of the facility improvements was 18 years and the effective age was also 18 years. Name: Student I.D. 9-10. (4 Points each) What is the contributory value of the storage facility Improvements for each sale property? 9. Sale 1: $ 10. Sale 2: 11-12. (4 Points each) What is the total accrued depreciation ($) for the storage facility improvements on each sale property? 11. Sale 1: 12. Sale 2: 13-14. (4 Points each) What is the annual depreciation ($/yr.) for the storage facility Improvements on each sale property? (Round to the nearest whole dollar) 13. Sale 1: 14. Sale 2: SName: Student I.D. 15-16. (4 Points each) What is the annual depreciation rate (%/year) for the storage facility improvements on each sale property? (Round to 2 decimal places; i.e., for your answer 1.236% =1.24% and 0.01232 = 1.23%) 15. Sale 1: % 16. Sale 2: % 17. (4 Points) Based on the annual depreciation rates indicated in the previous problems, what is the appropriate annual depreciation rate (%) for the subject property storage facility improvements? (Round to 2 decimal places) % 18. (4 Points) Based on the depreciation rate conclusion from the previous problem, what is the indicated total economic life (years) for these improvements? (Round to the nearest whole year) Years 19. (4 Points) What is the annual depreciation ($/yr.) for the subject property storage facility improvements? (Round to the nearest whole dollar) $