The subject property is a 2300 square foot residence with a replacement cost of $105.00 per square foot.

Curable physical deterioration for interior repairs is: $10,500.

Incurable physical deterioration for short-lived items:

	Cost to Cure	Age	Life	Depreciation
Roof	$15,500	7	20
Exterior Paint	5,500	8	10
Interior Paint	6,500	6	10
Exterior Repairs	2,500	4	10

Incurable physical deterioration for long-lived items is based on an effective age of 30 years and an estimated remaining economic life of 20 years.

No functional obsolescence is observed.

External obsolescence is estimated at 10% of the net value after physical deterioration.

The lot (land) value of the property is estimated to be $15,000.

a) Determine the total accrued depreciation.

b) Determine the estimated value of the property.

Answer rating: 100% (QA)

To determine the total accrued depreciation and the estimated value of the property we need to calcu... View the full answer