An appraiser is using the cost approach to find the value of a unique home. The house measures 75 feet by 150 feet and the square foot method shows a current construction cost of $225 per square foot. Since it was built the improvements have depreciated 1.5%. If the land is valued at $265,000 what is the value of the property
a) $628,125
b) $645,000
c) $661,875
d) $678,750