Land Development Case(Site analysis)<\/p>
<\/p>
You have accepted an assignment to appraise 120 acres of unimproved rolling and wooded land.It is zoned for residential and ready for development into a subdivision.The developer's consulting engineers estimate that 18% of the tract will be used for streets, sidewalks and utilities.The county planner informs you that the tract can be developed at the density of 3.5 lots per acre of net developable land after deducting land for streets and sidewalks.<\/p>
<\/p>
The market analysis of competitive developments leads you to believe the lots in the subject tract will sell for $13,000 each to builders, and the development should sell out within one year.<\/p>
<\/p>
O the basis of a careful analysis of other developments and interviews with knowledgeable developers, you estimate selling costs, overhead, contingencies, carrying costs, and developer's profits will total 38% of sale prices.The engineer tells you that 8,000 lineal feet of streets (including sidewalks and utility routes) will be installed by the developer at an estimated cost of $65 per lineal foot.<\/p>
1.How many lots can be developed?<\/p>
2.What are the gross receipts from the sale of all lots?<\/p>
3.What are the development costs of installing streets, sidewalks, and utility lines?<\/p>
4.How much money must be allocated to selling costs, overhead, contingencies, carrying costs, and developer's profits?<\/p>
5.What is your estimate of the present value of the 120 acre tract (total value and per acre value)?<\/p>", "transcribed_text": "", "related_book": { "title": "Managerial Accounting", "isbn": "9781119158226, 111915801X, 1119158222, 978-1119158011", "edition": "6th edition", "authors": "James Jiambalvo", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1327.jpg", "uri": "\/textbooks\/managerial-accounting-6th-edition-1327", "see_more_uri": "" }, "free_related_book": { "isbn": "1494924269", "uri": "\/textbooks\/am-i-small-children-s-picture-book-english-gujarati-by-philipp-winterberg-1st-edition-978-1494924263-310286", "name": "Am I Small Children S Picture Book English Gujarati By Philipp Winterberg", "edition": "1st Edition" }, "question_posted": "2024-06-06 01:09:22", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/this-problem-uses-the-two-years-of-financial-statements-data", "description": "This problem uses the two years of financial statements data provided in Problem 6 for the Genatron Manufacturing Corporation. a. Calculate and compare each current assets account as a percentage of...", "stars": 3 }, { "url": "\/study-help\/pearson-edexcel-a-level-mathematics\/the-path-of-a-car-on-a-ferris-wheel-at-1097956", "description": "The path of a car on a Ferris wheel at time t minutes is modelled using the parametric equations x = 12 sin t, y = 12 12 cos t where x is the horizontal distance in metres of the car from the start...", "stars": 3.5 }, { "url": "\/study-help\/psychology\/if-you-were-a-clinical-psychologist-in-what-situations-would-1983063", "description": "If you were a clinical psychologist, in what situations would you openly acknowledge cultural differences between yourself and an interview client?", "stars": 3.5 }, { "url": "\/consider-flat-plate-subject-to-parallel-flow-top-and-bottom", "description": "Consider a flat plate subject to parallel flow (top and bottom) characterized by U = 5 m\/s, T = 20C. (a) Determine the average convective heat transfer coefficient, convective heat transfer rate, and...", "stars": 3 }, { "url": "\/study-help\/questions\/match-the-items-below-by-entering-the-appropriate-code-letter-9874406", "description": "Match the items below by entering the appropriate code letter. A. Internal users B. Proprietorship C. Expenses D. Investing activities E. Financing activities F. Assets G. Liabilities H. Private...", "stars": 3 }, { "url": "\/study-help\/questions\/the-purple-company-this-project-will-give-you-an-opportunity-1416125", "description": "The Purple Company This project will give you an opportunity to apply your knowledge of accounting principles and procedures to a corporation. You will handle the accounting work of The Purple...", "stars": 3 }, { "url": "\/study-help\/questions\/time-left-1-3-6-3-7-keck-6623318", "description": "Time left 1 : 3 6 : 3 7 Keck Co . had 4 5 0 units of product A on hand at January 1 , 2 0 1 5 , costing $ 4 2 each. Purchases of product A during January were as follows: \\ table [ [ Date ,...", "stars": 3 }, { "url": "\/study-help\/systems-analysis-and-design-12th\/what-is-one-cause-of-an-offset-voltage-in-the-1418535", "description": "What is one cause of an offset voltage in the input stage of a BJT op-amp?", "stars": 3 }, { "url": "\/study-help\/project-management-\/using-the-data-in-the-table-below-calculate-the-project-1338085", "description": "Using the data in the table below, calculate the project schedule variance units: Schedule Variance Work Units A B C D E Total Planned Value (PV) 30 25 10 15 40 120 Earned Value (EV) 25 15 5 15 30...", "stars": 3 }, { "url": "\/study-help\/systems-analysis-design\/what-are-the-attributes-of-a-technical-decision-1415803", "description": "What are the attributes of a technical decision?", "stars": 3 }, { "url": "\/study-help\/business-process-management\/how-do-the-two-components-of-this-theory-work-together-1327707", "description": "How do the two components of this theory work together?", "stars": 3 }, { "url": "\/study-help\/conceptual-physical-science\/caterpillars-of-the-monarch-butterfly-eat-plants-that-are-toxic-1356306", "description": "Caterpillars of the Monarch butterfly eat plants that are toxic to other animals so that their tissues become toxic. Birds that try to eat Monarchs vomit and then avoid the striking orange-and-black...", "stars": 3 }, { "url": "\/study-help\/questions\/static-budget-versus-flexible-budget-the-production-supervisor-of-the-7062705", "description": "Static budget versus flexible budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: The actual...", "stars": 3 }, { "url": "\/study-help\/moral-issues-in-business\/putting-legal-technicalities-aside-did-griffiths-and-steffes-act-unethically-1553104", "description": "Putting legal technicalities aside, did Griffiths and Steffes act unethically? Explain the facts and IOOfal principles that support your answer.", "stars": 3 }, { "url": "\/study-help\/moral-issues-in-business\/should-people-who-discuss-or-recommend-specific-stocks-online-on-1553108", "description": "Should people who discuss or recommend specific stocks online, on television, or in print diSciose their own inVllstments in those companies? Is It sufficient for them lo do so only \"if people ask\"?", "stars": 3 }, { "url": "\/study-help\/moral-issues-in-business\/did-griffiths-and-steffes-violate-any-legal-or-moral-duties-1553107", "description": "Did Griffiths and Steffes violate any legal or moral duties toward lheir employer? Did tlley act unfairty in some way?", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/a-using-the-dcf-method-calculate-the-value-of-the-2329634", "next": "\/study-help\/questions\/can-i-get-an-explanation-on-the-following-questions-alpha-2329636" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Finance", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-finance" }, { "name": "Land Development Case(Site analysis) You have accepted an assignment to appraise 120", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/land-development-casesite-analysis-you-have-accepted-an-assignment-to-2329635" } ], "skill_details": { "skill_id": "13", "skill_name": "Finance", "parent_id": "1" } } } }