Tree appraisal: Can depreciation factors be rated greater than 100%?

"Generally accepted tree appraisal methods set forth in the Guide for Plant Appraisal employ Species, Condition, and Location adjustment percentage factors. It is sometimes suggested that these factors may be rated greater than 100% in order to reflect a value greater than replacement cost. This article examines this proposition and concludes that while appealing in its apparent simplicity, the proposition is conceptually unsupported, confusing, and unnecessary. Alternatives are offered and citations are provided." [UMN]