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You inherit 625 acres of farmland on January 1, 2016, when it is worth $1,740 per acre. Due to nearby suburban development, it appreciates 6%
You inherit 625 acres of farmland on January 1, 2016, when it is worth $1,740 per acre. Due to nearby suburban development, it appreciates 6% a year. You decide to sell the section on January 1, 2026. How much will you receive at that time (total dollars)?
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