Answer the following multiple choice questions.
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Question 1 of 2
1. Question
A home is presently appraised at $550,000. Calvin bought it new four years ago. Since then it has depreciated 16%. The home was originally worth approximately:
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Question 2 of 2
2. Question
An appraiser determines the property’s net operating income is $125,350. If she applies a capitalization rate of 8%, what is the market value of the property?
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