Doctor bob purchased 100 acres of land 10 years ago for, Financial Management

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Doctor bob purchased 100 acres of land 10 years ago for

Doctor Bob purchased 100 acres of land 10 years ago for $10,000 per acre. If he could have alternately invested the money at 8 percent per year, what price per acre must he receive today to break even with his opportunity (required) rate.

If Doctor Bob sold the land at $14,800 per acre today, what was his actual rate of return?

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Financial Management: Doctor bob purchased 100 acres of land 10 years ago for

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