1. Sales Comparison Approach Use the data in Table 1 to apply the sales comparison approach to the questions listed below. Show all calculations. Round all dollar figures to the nearest whole number. Round percentages to three decimal places. a) Calculate the per acre unit price of all six comparable sales. Place your answer in Table 2 (next page). b) Adjust per acre unit prices of all six comparable sales for time using the average rate per month method. Base your time adjustment on comparable sales with a Productivity II rating. Show how you determined the appropriate rate of adjustment. Also shco the adjustment factor for each comparable sale and the adjusted per acre current unit price in Table 2. c) Two sales have a Productivity Rating that differs from the subject property. Adjust the per acre current unit price indications (from part b) for differences in productivity. Explain how you determined the size of the adjustments. Show the adjustments and the per acre indicated unit value in Table 2. Based on these results, what per acre value do you assign to the subject property (do not use an average)? Explain how you selected this value. d) Calculate the per unit value of com and soybean acres. Use sales 4 and 6 to make these calculations, Show the calculations. e) Calculate the total final value of the subject property 1) using the per acre value from part c and 2) the corn and soybean per acre values from part d. Based on this information, assign a final total value for the subject property, explaining your decision. Show your calculations for each part of the problem. Use the workspace on page 2 - 3 . Table 2. Sales Comparison Approach \begin{tabular}{|c|c|c|c|l|c|c|c|c|c|} \hline Sale \# & Date & Price (\$) & Acres & Productivity Rating & Per Acre Unit Price (\$) (a) & Time Adjust ment & Per Acre Current Unit Price (\$) (b) & Productivity Adjustment (c) & Per Acre Indicated Unit Value ($) (c) \\ \hline 1 & 8 months & 2,036,600 & 680 & II & 2,995 & & & \\ \hline 2 & 6 months & 1,671,200 & 650 & III & 2,571 & & & \\ \hline 3 & 6 months & 2,186,100 & 700 & II & 3,123 & & & & \\ \hline 4 & 3 months & 2,357,900 & 710 & II & 3,321 & & & \\ \hline 5 & 2 months & 2,623,000 & 720 & 1 & 3,643 & & & \\ \hline 6 & 1 month & 2,388,100 & 690 & II & 3,461 & & & \\ \hline Subject & & & 675 & II & & & & \\ \hline \end{tabular}