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Highest and Best Use
- V = value of bundle of rights
- u(i) = present value one use
- so: V = Highest and Best of [u(1) + r(2) + r(3) +...]
This method does not work well because often the same use can be of different value to different buyers depending on their tax status or general financial condition.
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Copyright 1996, NDLM L.C.
David T. Gray