What is the economic rationale for the sales comparison approach? What information is necessary to use this approach? What does it mean for a property to be comparable?

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter11: Property Dispositions
Section: Chapter Questions
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What is the economic rationale for the sales comparison approach? What information is necessary to use this approach? What does it mean for a property to be comparable?

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