How do you calculate the Replacement Cost New of a 2-story home measuring 28 x 60, at a rate of $100 per square foot?

To determine the Replacement Cost New of the home, you first need to calculate the total square footage of the home. The home is measured at 28 feet wide and 60 feet long. To find the square footage, you multiply the width by the length:

28 feet x 60 feet = 1,680 square feet.

Next, to find the Replacement Cost New, you multiply the total square footage by the cost per square foot. In this case, the rate is $100 per square foot:

1,680 square feet x $100/square foot = $168,000.

Therefore, the Replacement Cost New for the given home is correctly calculated as $168,000, which aligns with the first choice provided. This calculation shows a thorough understanding of how to calculate the cost based on the area and per-square-foot cost, which is essential for appraisers and assessors in valuing residential properties.