Buy a piece of vacantland

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Reference no: EM131809214

You can buy a piece of vacantland for $30,000 cash. You plan to hold it for 15 years and then sell it at a profit. During this period, you would pay annual property taxes of $600. You would have no income from the property. Assuming that you want a 10% rate of return, at what net price would you have to sell the land 15 years hence?

Reference no: EM131809214

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