exam answer - 2949 Words
Place your answer on the answer sheet. There are 50 questions, each worth 2 points.
1) In 1985, Alice paid $20,000 for an option to purchase ten acres of land. By paying the $20,000, she bought the right to buy the land for $100,000 in 1992. When she acquired the option in 1985, the land was worth $120,000. In 1992, it is worth $110,000. Should Alice exercise the option and pay $100,000 for the land?
C) It depends on what the rate of inflation was between 1985...
2,949 Words | 15 Pages