Appraisal Economics has determined the fair value of the property and equipment of a large hospital in California for financial reporting under ASC 805. We determined the fair value of the land by conducting a sales comparison analysis. All comparables were verified by several sources, including brokers, municipal officials, tax searches, and real estate commercial services. Buildings and improvements, furniture, fixtures, and equipment were valued using the cost approach. As part of our analysis, we made adjustments to the values of the subject property and equipment to account for their physical depreciation, functional obsolescence, and economic obsolescence.

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