Five years ago, a Supermarket purchased three equally sized adjacent house blocks for a total of $3,000,000
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Question:
Five years ago, a Supermarket purchased three equally sized adjacent house blocks for a total of $3,000,000 to expand its car parking. Actual costs were $1,000,000, $990,000 and $1,010,000 by direct negotiation with the former owners. The store now wishes to purchase another two adjacent properties that are on the market. Due to very high demand in the area, property prices have risen by 15% per year. How much should the store be prepared to pay on average for each additional property today?
$4,000,000
$3,500,000
$2,000,000
$1,750,000
$6,000,000
$2,500,000
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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