Question: A Development Company acquired some land for development into a suburban utopia. Cost of lots acquired 24,600,000 Number of lots purchased 200 Number and types

A Development Company acquired some land for development into a suburban

A Development Company acquired some land for development into a suburban utopia. Cost of lots acquired 24,600,000 Number of lots purchased 200 Number and types of lots Number Sales price Lake front 204,000 Golf view 154,000 Other 1 90117,000 Total number of lots 200 Using the relative sales value approach, the gross profit on a sale of 30 Lake front lots? Multiple Choice O 1,011,347 O 763,468 O 580,037 C 1,060,000

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