Consider the following descriptions of approaches used in valuing real estate: Approach 1: In this approach, the present value of after-tax cash flows are calculated based on the investor’s required rate of return before the equity portion of the investment is deducted. Approach 2: In this approach, the value of land is estimated and is added to the price that would have to be paid if a property had to be replaced. Approach 3: In this approach, an appraisal price is estimated as the discounted net operating income based on the market required rate of return. Approach 4: This approach relies on examining recent transaction prices from a group of similar properties and depends on a reasonably liquid market. List in order, from Approach 1 to Approach 4, the real estate valuation methods that correspond to each of the four valuation approaches listed above.（）
A. The discounted after-tax cash flow model, the cost method, the income method, and the sales comparison method.
B. The income method, the cost method, the sales comparison method, and the discounted after-tax cash flow model.
C. The income method, the discounted after-tax cash flow model, the sales comparison method, and the cost method.
