You are appraising a five-year-old, single-family home. The livable area is 60 feet by 50 feet. The garage is 24 feet by 20 feet. According to figures obtained from a cost-estimating service, the base construction cost per square foot of livable area is $103 and $92 per square foot for the garage. Calculate the reproduction cost new of the structure.

You are appraising a five-year-old, single-family home. The livable area is 60 feet by 50 feet. The garage is 24 feet by 20 feet. According to figures obtained from a cost-estimating service, the base construction cost per square foot of livable area is $103 and $92 per square foot for the garage.

Now, to calculate the reproduction cost new of the structure.

So, to get the area of livable area:

As, the livable area is 60 feet by 50 feet.

[tex]60\times 50[/tex]

[tex]=3000\ feet^2.[/tex]

The total area of livable area = 3000 feet²

The cost per square foot of livable area is $103:

Now, to get the total cost we multiply the total area of livable area by cost per square foot of livable area:

[tex]3000\times 103[/tex]

[tex]=\$309000.[/tex]

Total cost of base construction of livable area = $309000.

And to get the area of garage:

As, the garage is 24 feet by 20 feet.

[tex]24\times 20[/tex]

[tex]=480\ feet^2.[/tex]

The total area of garage = 480 feet².

The cost per square foot for the garage = $92.

Now, to get the total cost we multiply the total area of garage by cost per square foot for the garage:

[tex]480\times 92[/tex]

[tex]=\$44160.[/tex]

Total cost of base construction of garage = $44160.

Now, to get the reproduction cost new of the structure we add both the total cost of base construction of livable area and garage:

[tex]309000+44160[/tex]

[tex]=\$353160.[/tex]

Therefore, the reproduction cost new of the structure is $353160.