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ti <br /> COST APPROACH TO VALUE: <br /> In this approach the current costs of replacing the structure are <br /> estimated. The resulting value is then depreciated for physical , <br /> economic and functional factors . The resulting value is the current <br /> estimated value of the structure which is then added to the value of <br /> the lot which hsa been determined by the market data approach to <br /> obtain an estimated value of the whole property. . <br /> 864 sa. ft . x $38 . 00 per so. ft . = $ 32 , 832 <br /> less 85% depreciation —27, 907 <br /> depreciated value of structure 4. 925 rounded = $4, 900 <br /> lot value 4, 400 <br /> total value $ 9, 300 <br />