Question: Using the data below, what is the cost approach value for this property: Land value: $18,000,000 Estimated depreciation: 28% 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: 28% of new structure value Estimated replacement cost of improvements (as new): $8,000,000 [round to nearest dollar]

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