AJB Real Estate purchased a ten-acre tract of land for $320,000. The company divided the land into
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AJB Real Estate purchased a ten-acre tract of land for $320,000. The company divided the land into four lots of two and one-half acres each. Lot 1 had a beautiful view of the mountains and was valued at $160,000. Lot 2 had a stream running through it and was valued at $120,000. Lots 3 and 4 were each valued at $60,000. Assume that each lot is sold for the values indicated. Compute the profit on each of the four sales.
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Lot 1 Lot 2 Lot 3 Lot 4 Revenue 160000 120000 60000 ...View the full answer
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