Specific prices over general price level

Assignment Help Accounting Basics

Reference no: EM1363039

Inflation was 8 percent during the most recent year and your organization's investment in land rose 12 percent. If the beginning appraised land value was $1,000,000, what increase in specific prices over general price level would be reported, stated in year-end dollars?

A. $20,000
B. $40,000
C. $43,200
D. None of the above

Reference no: EM1363039

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