Real Estate Math
A Louisiana investor bought a property for $310,000 and sold it 4 years later for $378,000 after making $18,000 in improvements. What was the net appreciation on the investment (excluding selling costs)?
A$50,000✓ Correct
B$68,000
C$58,000
D$85,000
Explanation
Total cost basis = $310,000 + $18,000 = $328,000. Net appreciation = $378,000 − $328,000 = $50,000.
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