The owner of a corner lot wants to find a use that
Chapter , Problem 7-76(choose chapter or problem)
The owner of a corner lot wants to find a use that willyield a desirable return on his investment.After muchstudy and calculation, the owner decides that the twobest alternatives are:Build SoftBuild Ice CreamGas Station StandFirst cost$80,000 $120,000Annual property taxes 3,000 5,000Annual income11,000 16,000Life of building, in years 20 20Salvage value00If the ownerwantsa minimum attractive rate of returnon his investmentof6%, which ofthe two alternativeswould you recommend?
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