Answer:
The reproduction cost new of the structure is <u>$353160</u>.
Step-by-step explanation:
Given:
You are appraising a five-year-old, single-family home. The livable area is 60 feet by 50 feet. The garage is 24 feet by 20 feet. According to figures obtained from a cost-estimating service, the base construction cost per square foot of livable area is $103 and $92 per square foot for the garage.
Now, to calculate the reproduction cost new of the structure.
So, to get the area of livable area:
As, the livable area is 60 feet by 50 feet.
The total area of livable area = 3000 feet²
The cost per square foot of livable area is $103:
Now, to get the total cost we multiply the total area of livable area by cost per square foot of livable area:
<u><em>Total cost of base construction of livable area = $309000.</em></u>
And to get the area of garage:
As, the garage is 24 feet by 20 feet.
The total area of garage = 480 feet².
The cost per square foot for the garage = $92.
Now, to get the total cost we multiply the total area of garage by cost per square foot for the garage:
<em><u>Total cost of base construction of garage = $44160.</u></em>
Now, to get the reproduction cost new of the structure we add both the total cost of base construction of livable area and garage:
Therefore, the reproduction cost new of the structure is $353160.