Ree 4103 test 1 questions - Study guides, Class notes & Summaries

REE 4103 TEST 1 QUESTIONS WITH REVISED AND UPDATED ANSWERS Short-lived items refer to - Answer-• Items requiring periodic replacement (carpet) • Economic life normally same as physical life Subtracting an improvement's current market value from its reproduction cost new indicates: - Answer-• Accrued depreciation The effective age of a building will probably exceed its actual age when: - Answer-• An inadequate maintenance program has been used The land on which a 10-year-old h...

REE 4103 TEST 1 QUESTIONS WITH REVISED AND UPDATED ANSWERS Based on the following cost estimates, what is the reproduction cost of a 2,350-sq.-ft. house with a 1,100-sq.-ft. basement, a 650-sq.-ft. attached garage, and a 300-sq.-ft. wood deck?· Above-grade residence cost = $77 per square foot; · Basement area cost = $18 per square foot; · Garage cost = $18 per square foot; · Wood deck = $11 per square foot $215,750 $212,450 $200,750 $180,950 - Answer-$215,750 Which method of est...