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9. How much would it cost to construct a building today that cost $128,000 to build back in
1970 iven the burlding construction index for constructing that type of building was 287 in 1970
and is now 20272
Solution
Cost of constructing the building today = (1970 price / 1970 index)* Index today
Cost of construction today = (128000/28.7)(202.7)
Cost of construction today = $904,027.87

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