Acme Investors is considering the purchase of the undeveloped Baker Tract of land. It is currently zoned for agricultural use. If purchased, however. Acme must decide how to have the property rezoned for commerclat use and then how to develop the site. Based on its market study. Acme has made estimates for the two uses that it deems possible, that is, office or retail. Based on its estimates, the land could be developed as follows: Required: What is the residual land value for Office? You'll need to know the cash flow and the cap rate to calculate this. What is the residual land value for Retail? Which would be the highest and best use of this site