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nydimaria [60]
1 year ago
12

A seller received $800,000 for a 5.5 acre rectangular parcel alongside a road frontage. The property is 400’ deep. What was the

price per front foot of the property?
Business
1 answer:
Mademuasel [1]1 year ago
6 0

Answer:

$1,335.67  per front foot

Explanation:

First we must determine the total footage of the property = 5.5 acres x 43,560 feet² per acre = 239,580 ft²

Now we divide the total footage by the number of feet deep =  239,580 ft² / 400 feet deep = 598.95 front feet

Finally we divide $800,000 / 598.95 front feet = $1,335.67  per front foot

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