Suppose you buy land for $3,000,000 and spend $1,000,000 to develop the property. You then divide the
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Question:
Suppose you buy land for $3,000,000 and spend $1,000,000 to develop the property. You then divide the land into lots as follows: Category Sale price per lot 10 Hilltop lots $500,000 10 Valley lots 300,000 How much did each hilltop lot cost you?
a. $171,429
b. $228,571
c. $250,000
d. $400,000
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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