Question

A tract of land in a recreational area is measured at 395,340 square feet. A corner of the tract, 30 feet wide and 110 feet deep, is owned by the county. The privately owned land sold for $1,250 per acre. What was the total amount realized from the sale:

Answer 1

The total amount realized from the sale of the privately owned land is $95.10.

Step-by-step explanation:

To find the total amount realized from the sale, we need to calculate the area of the privately owned land. The privately owned land is a rectangle with dimensions of 30 feet by 110 feet. To convert the area to acres, we divide by 43,560 square feet (since there are 43,560 square feet in an acre).

The area in acres is (30 feet * 110 feet) / 43,560 square feet per acre = 0.07608 acres.

Since the land sold for $1,250 per acre, we can multiply the area in acres by the price per acre to find the total amount realized from the sale:

Total amount realized = 0.07608 acres * $1,250 per acre = $95.10.