Using Cost approach to value floor area method, determine

the fair market value (FMV) of the land per square meter under the
following assumptions:

Lot area - 300 sq m

FMV of land and bldg - P2,940,000
Floor Area of the house - 100 sqm
Replacement Cost per sq meter of the house - P18k / sqm
Accrued Depreciation of the house - 20%

FMB land and bldg - Bldg Value = Land Value

P2.94m - P1.44m = P1.5m

FMV/ sq m of lot = P1.5m / 300 sqm - P5k

Supporting computation:
Bldg Value = RCN of P1.8M x 80% = P1.44M

The downpayment for installment lot is 20%. Monthly

Amortization Factor is 0.0237898 while the monthly
amortization for the next 5 years is P118,949.00. How
much is the selling price?

(Tip: Formula is Monthly Amortization = Loan Value

* Factor)