Question

A property owner must spend $10,000 to pave his driveway. Upon completion of construction, his property value will increase by $7,500. In this case the deficiency would be considered to be _______.
a. incurable deterioration.b. curable functional obsolescence.c. incurable economic obsolescence.d. incurable functional obsolescence.

Answer 1

Answer:

Incurable deterioration

Explanation:Incurable deterioration -  it is referred to as the type of deterioration that is not considered economically or physically corrected. In this type of deterioration, the cure is not possible if the anticipated increase is element value is surpassed by the cost of element.

Incurable physical deterioration occurs when the cost of repair has surpassed the increase in element value due to repair.