A 19 year-old home looks like it is only 6 years old because it has been well maintained. The estimated life of the home is 40 years. Using the cost approach to appraise the home, the appraiser most likely would use the:
a. effective age of the improvements.
b. economic age of the improvements.
c. physical age of the improvements.
d. chronological age of the improvements.
Answer: a. effective age of the improvements.
Business
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