Exercise 9-9 Ayayai Realty Corporation purchased a tract of unimproved land for $55,000. This land was improved and subdivided into building lots at an additional cost of $27,000. These building lots were all of the same size but owing to differences in location were offered for sale at dfferent prices as follows Price per Lot $4,200 5,600 3,360 Group No. of Lots 16 18 Operating expenses for the year allocated to this project total $17,000. Lots unsold at the year-end were as follows Group 1 Group 2 Group 3 S lots 7 lots At the end of the fiscal year Ayayai Reaity Corporation instructs you to armive at the net income realized on this operation to dete. (Rhound ratios fer computational purposes to 78.7234% and final answer to 0 decimal places, e.g.sr84S) declmal places, e.g. Net income