To determine the estimated reproduction cost of a subject building using the index method, the appraiser takes the index factor and multiplies it by the ______.

The estimated reproduction cost using the index method involves taking the cost index that reflects current market conditions and applying it to the original construction cost of the building. The rationale for using the original construction cost is that it provides a baseline figure that accurately reflects the initial expenditure made to build the structure. By multiplying the original construction cost by the current cost index, the appraiser effectively adjusts for inflation and other market changes that have occurred since the building was originally constructed.

This approach allows for a more current estimate of what it would cost to reproduce the same building today, taking into account the changes in construction costs over time. Thus, using the original construction cost alongside the index factor ensures that the reproduction cost is reflective of present market realities, enabling a more accurate valuation of the property.