Oriole Flight Acadeny acquired a new site for its training operations. The compamy was able to find a small unused airport with an updated rumway and hangar that could be used to accommodate a flight simulator, small aircraft, and classrooms. The location was ideal as it was close to the city centre with a large population base from which to attract students. Oriole pald 56 . 40 million to acquire the she. Pi ior to providinis finaricing for the purchase. the bank reguired that an appraisal be completed of the property The evaluation bppe aikal report came back with the followingestimated market values: land 53.552 .240 , building 52.430 .480 and land amprovements 5249,200. Oriole manabement explained, to the bank's sabblaction, that it paid the $164.000 premium because of the property's proximity to the city centre and access to a Lare popolation base from which to drow stodents