Real Estate Math
A developer buys a 10-acre parcel for $600,000 and subdivides it into 25 lots of equal size. What is the cost per lot?
A$24,000✓ Correct
B$60,000
C$15,000
D$25,000
Explanation
Cost per lot = $600,000 / 25 = $24,000 per lot. Using the values given ($600,000), apply the appropriate formula.. The correct answer is $24,000.. This is a common calculation on the Utah real estate exam.
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