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A residential property sold for $482,500. You estimate the land value to be $150,000 and the site improvements to be worth $25,000. The house contained 2,930 square feet of GLA. What is the indicated allocated value per square foot of the dwelling?

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Answer: $104.78

Explanation:

Total allocated value per square foot = Selling price - land value - site improvement

= 482,500 - 150,000 - 25,000

= $307,000

Allocated value per square foot = 307,000/2,930

= $104.78

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