Question: Using the cost approach of appraisal, what will be the market value of a property with a 50,000 square foot building if new construction costs are $50 per square foot, land value is $750,000, and total depreciation on the structure to date is estimated to be 10%? Group of answer choices $3,250,000 $2,500,000 $3,000,000 $2,250,000