Final answer:
The replacement cost approach is easier to apply to a newer building compared to an older building because of standardized construction materials, practical design, and modern infrastructure.
Step-by-step explanation:
The replacement cost approach is easier to apply to a newer building compared to an older building because newer buildings tend to have more standardized construction materials and methods. This makes it easier to estimate the cost of replacing these materials in the event of damage or destruction. Additionally, newer buildings are often designed with efficiency and practicality in mind, which can make it easier to accurately assess their replacement cost. For example, newer buildings may have modern infrastructure and technology that can be easily replicated.