You are developing a $48$ lot community on $19\mathrm{.}2$ acres and plan to sell the lots to builders for the construction of homes to sell for $$180,000.$ Market research shows that you can sell a lot to a builder for $21\%$ of the sales price of the home on the lot, and your A & D lender has agreed to use the same for the value of each lot. The lender will make you a loan at $70\%$ LTV with an annual interest rate of$7\mathrm{.}5\%$ and a $120\%$ lot payoff accelerator. Further, the lender will disburse a total of $$400,000$ at the initial closing. You have completed a market study demonstrating an absorption $29$ lots annually. The cost of the land is $$10,000$ per lot and the cost of development is $$18,000$ per lot,$$ which includes all closing costs and financing fees $..$ It will take you $10$ months of construction time before you can record the final plat and begin to sell the lots. How much total equity will be invested to complete construction? How much profit and profit margin will you make on the sale of the lots? How much cash will yqu receive at the closing of the first lot and how much at the closing of the last lot?

After completing the analysis, you determine you need to make a $24\%$ profit margin. Assume all costs remain the same but the land. To make this profit, how many units per acre must the zoning allow? Answer for: Total Equity, Profit, Profit Margin $($original$),$ Cash from first lot closing, cash from last lot closing, Units per acre for $24\%$ margin.