2. Future value. Jackson Enterprises has just spent $230,000 to purchase land for a future beachfront property development project that will include rental cabins, lodge, and recreational facilities. Jackson Enterprises has not committed to the development project, but will decide in five years whether to go forward with it or sell off the land. Real estate values increase annually at 4.5% for unimproved property in this area. For how much can Jackson Enterprises expect to sell the property in five years if it chooses not to proceed with the beachfront development project? What if Jackson Enterprises holds the property for ten years and then sells?