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Use of the approaches in this assignment is summarized as follows: <br /> APPROACHES <br /> Necessary for <br /> Approach Credible Results? Use in Assignment <br /> Cost Approach No Not Utilized <br /> Sales Comparison Approach Yes Utilized <br /> Income Capitalization Approach Yes Utilized <br /> This appraisal utilizes the Sales Comparison and Income Approaches. The Cost Approach was <br /> excluded due to the presence of significant depreciation at the subject, and to the concluded <br /> highest and best use resulting in a remodeling of the improvements, and finally because most <br /> market participants do not rely on this approach for properties such as the subject. <br /> Final Reconciliation Process <br /> The valuation process is concluded by analyzing each approach to value used in the appraisal. <br /> When more than one approach is used, each approach is judged based on its applicability, <br /> reliability, and the quantity and quality of its data. A final value opinion is chosen that either <br /> corresponds to one of the approaches to value, or is a correlation of all the approaches used in <br /> the appraisal. <br /> 57 <br />