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What would you recommend mark do and why

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Mark purchased 30 acres undeveloped land 10 years ago for $935,000. Mark is considering subdividing the land into 1/3 acre lots and improving the land by adding streets, sidewalks and utilities. He believes he can advertise and sell all 90 lots himself for $20,000 each, and that the improvements will cost about $275,000. Mark has also been approached by a corporation to sell the 30 acre tract of land as is for $1.35 million. Assuming Mark is in the 35% tax bracket, what would you recommend Mark do and why?

Reference no: EM13550869

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