Given the Following Information, Determine the Value of Having an Additional

question 20

Multiple Choice

Given the following information, determine the value of having an additional bedroom. Assume that the comparable properties are similar in all other attributes besides those listed in the table below. $\begin{array}{l|c|c|c|c} & \text { Comparable 1 } & \text { Comparable 2 } & \text { Comparable 3 } & \text { Comparable 4 } \\\hline \text { Time Sold } & \text { Today } & \text { Year Ago } & \text { Today } & 1 \text { Year Ago } \\\hline \text { Bathrooms } & 2 & 2 & 2 & 3 \\\hline \text { Bedrooms } & 3 & 3 & 4 & 3 \\\hline \text { Sale Price } & \$ 375,000 & \$ 365,000 & \$ 380,000 & \$ 367,500\end{array}$

• A) $2,500
• B) $5,000
• C) $7,500
• D) $10,000

---

Definitions:

Court System

The organizational structure of courts within a jurisdiction, responsible for the administration of justice, including trial and appellate courts.

Common Law

A body of law derived from judicial decisions and customs, as opposed to statutes or written legislation.

Legal Principles

Fundamental truths or propositions that serve as the foundation for a system of laws or judicial decision-making.

Federal Constitution

The fundamental law of the land in a federal system, establishing the national government's structure, powers, and responsibilities.