Using the following data answer the question. You are negotiating the entitlements with the County and currently have the following approvals and project data, land of 100,000 sq. ft., gross square feet of building at 300,000 sq. ft., hard and soft costs at $500 per sq. ft., a land value at $30 per sq ft. and a stabilized NOI of $10 million. If the square footage of the building is increased to 330,000 sq. ft., what could you pay for the land per sq. ft. to maintain the original return on cost?

A. $34

B. $30

C. $32

D. $35