uestion 12 (1 point) 32 acres are available for development. One acre of residential can be developed for a cost of $48,000 and sold for $87,000. One acre of retail can be developed for a cost of $80,000 and sold for $125,000. Residential is estimated to be absorbed at a pace of 15 acres per year. Retail is projected to absorb at a pace of 7 acres per year. The relevant discount rate is 10%. Calculate the optimal land allocation based on these assumptions. Excel 30 acres residential, 2 acres retail 25 acres residential, 7 acres retail 15 acres residential, 17 acres retail 18 acres residential, 14 acres retail