QUESTION 3 A development has 28 lots that have been in inventory for four ygars. The market will limit sales to five lots a year. Lot prices will be stable for three years but then none have sold. The real estate taxes are $200 per lot for the inventory of previous year. Sales commissions are 5% of gross sales. Since the lots are already built, the market appears to be recovering the entreprenurial incentive is only 15% of the gross sale price. There is $25,000 of deferred maintenance and about $1,000 per year in ongoing maintenance. What is the value of all 28 lots today if the discount rate is 1096 and there is annual accounting? 0 $812,000 O $1,461,769 $837,000 O $1,145,000 QUESTION 4 QUESTION 3 A development has 28 lots that have been in inventory for four ygars. The market will limit sales to five lots a year. Lot prices will be stable for three years but then none have sold. The real estate taxes are $200 per lot for the inventory of previous year. Sales commissions are 5% of gross sales. Since the lots are already built, the market appears to be recovering the entreprenurial incentive is only 15% of the gross sale price. There is $25,000 of deferred maintenance and about $1,000 per year in ongoing maintenance. What is the value of all 28 lots today if the discount rate is 1096 and there is annual accounting? 0 $812,000 O $1,461,769 $837,000 O $1,145,000 QUESTION 4