1) Define Highest and Best Use as it applies to appraisal. Be sure to list the four conditions that must be met. 2) John Jones has 1,100 acres, 700 in cropland valued at $2,300 each and 400 in pasture valued at $1,500 each. 350 acres of pasture could be converted to cropland at a total cost of $70,000. The remaining 50 acres would subsequently decline in value to $500 each. Calculate the value of the total acreage before improvements. Calculate the value of the total acreage after improvements. Are improvements financially feasible in this case? 3) What are the general data that an appraiser collects to measure the forces that affect property values in the market? 4) List and briefly define the government limitations on fee simple property rights. (You may have to research these terms a little to provide a definition)