Question 31 (1 point) A land development project includes 180 lots for sale. Annual absorption is estimated at 81 lots sold per year, with sales beginning in year 1. The average lot price is $55,000 in year 1, and expected to increase by 2% each year thereafter. What is the total expected revenue generated from lot sales for this development? Excel $9,900,000 $10,029,096 $11,841,000 $13,634,082 Question 32 (1 point) During the site selection process in land development, which of the following is an important consideration prior to the purchase date