Bob Reynolds is working on a loan application that asks for his net worth. Bob owns a 100 acre farm with a home and barn valued at $6,500 per acre. He has multiple pieces of equipment on the farm, with a total value of $575,000. Bob also runs a small herd of Angus cattle, The herd is valued at $35,000. Bob has two bank loans and a vehicle loan that total $465,000 in debt. What is Bob's current equity or net worth? Group of answer choices $795,000 $1,260,000 $685,000

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