A house has an estimated replacement cost of $200,000. The house is 10 years old (that’s its actual age), and it has an estimated economic life of 65 years. It is in need of repainting and other minor repairs, which will cost a total of $5,000. The remaining economic life of the house is currently estimated at 52 years; the remaining economic life would be 55 years if the needed repairs were completed. Estimate the depreciated value of the house under both versions of the economic age-life method (considering cost to cure or not).
Method 1 (without considering cost to cure):
Method 2 (considering cost to cure):
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