The cost for constructing a small building in 1999 was $700,000. The construction cost index was 6059 at that time. The estimated cost of a similar building when the index value is 10,000 is closest to: (a) $424,130 (b) $1,155,300 (c) $1,347,200 (d) $1,384,500

The cost for constructing a small building in 1999 was $700,000. The construction cost index was 6059 at that time. The estimated cost of a similar building when the index value is 10,000 is closest to: (a) $424,130 (b) $1,155,300 (c) $1,347,200 (d) $1,384,500

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter8: Cost Analysis

Section: Chapter Questions

Problem 1.1CE

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Question

The cost for constructing a small building in 1999
was $700,000. The construction cost index was 6059
at that time. The estimated cost of a similar building
when the index value is 10,000 is closest to:
(a) $424,130 (b) $1,155,300
(c) $1,347,200 (d) $1,384,500

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