An appraiser is trying to estimate depreciatation when valuing an older residential rental property, but is finding it difficult because no comparables have sold recently. However, the appraiser can find sufficient data on rental rates in the same market, and a capitalization rate can be supported. Which approach to value should the appraiser use?
A. Cost
B. Income
C. Market Data
D. Sales comparison
Answer: B. Income
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Which of the following powers will allow an administrative agency to bring agency proceedings against Tuff-Steele Constructions? A) licensing B) executive power C) judicial authority D) rule making
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Indicate whether the statement is true or false