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OpenStudy (anonymous):
Tiffany purchased a building for $152,250. The land appreciates about 3.4% each year. What is the value of the land after 13 years?
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OpenStudy (anonymous):
Book value will not change. No matter how many years pass, as long as this part of assets are not sold out or something, the book value is still the same. The market value on the other hand will rise up. Market value=$152,250*(1+0.034)^13=$235,138.80
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