Question: Using the data below, what is the cost approach value for this property: Land value: $18,000,000 Estimated depreciation: 10% of new structure value Estimated replacement

Using the data below, what is the cost approach value for this property: Land value: $18,000,000 Estimated depreciation: 10% of new structure value Estimated replacement cost of improvements (as new): $7,000,000 $24,300,000 $22,000,000 O None of these are correct O $25,000,000 $22,700,000

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