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Question: q5 use the cost index method to estimate the current...

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Q5. Use the cost index method to estimate the current construction cost for a building equivalent to one constructed in 1980 at a cost of AED2.7 million. According to the Engineering News-Record, the 1980 average Building Cost Index was 1941. Suppose that the current year Building Cost Index has been estimated at 3620.

(Source:http://enr.construction.com/features/conEco/costIndexes/bldIndexHist.asp )

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