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What is the maximum price per square foot

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An investor learns the local college plans to expand and acquire property in a specific neighborhood. The college will pay $20 per square foot for one acre (43,560 square feet) of land. Anticipating a sale exactly one year after acquisition, using a discount rate of 15%, and having a minimum required profit of $200,000, what is the maximum price per square foot the investor should pay to acquire the land?

Reference no: EM133077274

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