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A developer buys 348,480 square feet of land at $0.70 per square foot and divides the land into half-acre lots. If the developer keeps three

A developer buys 348,480 square feet of land at $0.70 per square foot and divides the land into half-acre lots. If the developer keeps three lots and sells the others for $24,124 each, what percentage of profit does the developer realize?

a. 29%

b. 33%

c. 25%

d. 20%

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