$$Using the Cost approach please value the described property: $$ House$+$ Attached Garage$$ Cost NEW per Square Foot $35$ x $45$ feet$$House $=$ $$400$ per square foot $20$ x $20$ feet$$Attached $$Garage $=$ $$100$ per square feet $$ Depreciation Information$$ Land Value $$ Estimated life new $=50$ years$$ $$110,000$ based on recent comps $$ Present effective age $=20$ years $(30$ years of life left$)$ $ $630,000\mathrm{.}00$replacement value of house $ $40,000\mathrm{.}00$replacement value of garage $=$ $$$before depreciation$$ Depreciation $100\%$ divided by $50$ years $=2\%$ depreciation per year$$ x $20$ years$=40\%(1$point$)$ $$522,500$ x $40\%$ depreciation $=$ $$209,000\mathrm{.}00$ depreciation$)$ $$$before depreciation$+$ or $-$$$\_\_\_\_\_\_\_\_\_\_\_+$ or $-$ depreciation $($choose $+$ or $-)=$ $$$present value of improvements$+$ or $-$ $$\_\_\_+$ or $-$ land value$($choose $+$ or $-)=$ $$$appraiser$$s $$estimate of value$$