The subject building was reported to cost $4,560,000 when it was built 11 years ago. The comparative multiplier for the subject's area in the year of construction was 1.5656. Determine the cost estimate as of today using cost index trending and straight-line calculations.
a) $2,912,500
b) $4,560,000
c) $5,039,500
d) $7,139,000
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