Answer:
The indicated value of the property amounts to $229,000
Explanation:
Indicated value is the bottom line which is appraisal opinion of the present value of the property after the reconciliation of all the approaches as well as methods to appraising the property.
The indicated value of the property is computed as:
Indicated value = Replacement cost - (Depreciation - Land worth)
where
Replacement cost is $235,000
Depreciation is $23,000
Land worth is $17,000
Putting the values above:
Indicated value = $235,000 - ($23,000 - $17,000)
Indicated value = $235,000 - $6,000
Indicated value = $229,000
Therefore, the indicated value of the property amounts to $229,000
