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You have a chance to buy a plot of rice land that is offered for sale for $ 5 0 0 0 / acre. You

You have a chance to buy a plot of rice land that is offered for sale for $5000/ acre. You expect* the annual NET returns (revenue minus costs) from rice production to be $400/acre in Year 1* the NET returns will grow slightly faster than inflation over time (3% per year...so the net return in Year 2 would be $412),* inflation of 2%,* you will own the land for 25 years before selling it,* the value of the land for resale will grow at the same rate as inflation (2% annual growth).After accounting for 3% growth per year in the net returns,what is the net return in year 24?

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