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Attachment 1 <br />File:Valuation Analysis and Conclusions <br />Dale Franke Electric Company charged another $2,000for supplying/hanging some <br />light fixtures. A note on one of the Dale Frank invoices states that an additional $250 <br />to $350 would be billedlater, say $300. Finally, $755was spent with anothervendor <br />for additional ceiling tile. <br />Thus, the total historical cost for these items was $120,895. This is multiplied by <br />1.4915 for inflation, resulting in an inflation adjusted cost of $180,315. A 10% <br />premium is added for entrepreneurialprofit, bring the final estimate of replacement <br />cost new to $198,350. <br />VALUE CONCLUSIONS <br />The conclusions of RCN, percent good, and fair market values are presented on the <br />following page. Again, the values of severalsubject items wereestimated separately. <br />The combined fair market value in continued use of all items is $143,760. <br />Note: Again, the appraisal is based on the extraordinary assumption that hadthe <br />Citynot acquired the retail center property, then Salon 27would have continued to <br />occupy the subject spaceuntil the subject tenant improvements and trade fixtures <br />were attheends of their usefullives. <br />Dodd Advisory & Valuation 24 <br />Qbhf!234!pg!385 <br /> <br />