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you can purchase a tract of land for 75000 that you believe you can develop and sell as a residentia; development. you development costs are

you can purchase a tract of land for 75000 that you believe you can develop and sell as a residentia; development. you development costs are 50000 to be incurred immediately. you expect to sell all the lots in years 3-5 at a net income of 60000, 85000, 58000 respectively. you required rate of reurn is 12 percent. do you purchase?

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