Question
You have recently acquired a piece of land in a nearby city. The circumstances of the acquisition are quite strange... it seems that your Aunt
You have recently acquired a piece of land in a nearby city. The circumstances of the acquisition are quite strange... it seems that your "Aunt Pat" was actually, originally, your "Uncle Pat" and when she died she left this piece of land to her brother, your friend, Larry. Wanting nothing to do with his ex-brother Pat, Larry gave the land to you saying "This land's yours for the next 24 months. If you haven't sold it in that amount of time, I'm taking it back and donating it to the NRA (National Rifle Association)." Remembering your development class at UTA, you think it may be a good idea to possibly create some additional value by developing the property. Please describe how you would determine if actually developing the property is worthwhile as opposed to selling it to someone else or, unbeknownst to your friend, just donating it to Aunt Pat's favorite cause, which is, ironically enough, the National Rifle Association. (19 points, 20 for a really good answer.)
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