An industrial engineer, who was formerly a real estate developer, wants to estimate the construction costs of an apartment complex that he recently acquired. He gathered the following information: If the total construction cost of the similar property was $2.5 million in the reference year, what is his estimated construction cost in the current year?

Question

An industrial engineer, who was formerly a real estate developer, wants to estimate the construction costs of an apartment complex that he recently acquired. He gathered the following information:  If the total construction cost of the similar property was $2.5 million in the reference year, what is his estimated construction cost in the current year?

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The Answer of An industrial engineer, who was formerly a real estate developer, wants to estimate the construction costs of an apartment complex that he recently acquired. He gathered the following information:  If the total construction cost of the similar property was $2.5 million in the reference year, what is his estimated construction cost in the current year?

An Industrial Engineer, Who Was Formerly a Real Estate Developer