You have been asked to provide an estimate of value for insurance purposes for a single family home. The house was built in 1985 and is a 2,400 square foot two story home with a living room, dining room, family room four bedrooms, and two and one & half baths. The replacement cost is $115 per square foot. There is a deck of 192 square feet, with a replacement cost of $16 per square foot. The land value is $75,000, and the lump sum value of the site improvements is $15,000. You estimate that the effective age of the property is 12 years, with a remaining economic life of 38 years. What is the insurable value of the property?