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A real estate development company is applying Lean accounting principles. Requirements: Calculate the Development Cost per Square Foot for a residential project that cost $5,000,000

  • A real estate development company is applying Lean accounting principles.
  • Requirements:
    • Calculate the Development Cost per Square Foot for a residential project that cost $5,000,000 and includes 50,000 square feet of living space.
    • Recommend strategies to minimize Development Cost per Square Foot.
    • Explain how reducing Development Cost aligns with Lean principles in real estate development.

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