A single-family property recently sold for $555,500. the site value is $120,000. the cost new of the dwelling is $498,750. what

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1 year ago

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is the amount of accrued depreciation to the dwelling?

1 answer:

shutvik [7] · Answer 1 · 2024-05-08T09:21:16+03:00

The amount of accrued depreciation to the dwelling equals to $63,250.

<h3>What is an accrued depreciation?</h3>

This refers to the loss in value from reproduction or replacement cost new due to all causes except depletion as of the date of appraisal.

Cost of land = $555,500 - $120,000

Cost of land = $435,500

Accrued depreciation = Cost of dwelling - Cost of land

Accrued depreciation = 498,750 - 435,500

Accrued depreciation = $63,250

Therefore, the amount of accrued depreciation to the dwelling equals to $63,250.

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