Farmer Joe owns farmland along a busy highway. Farmer Joe originally paid $500,000 for this...
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Farmer Joe owns farmland along a busy highway. Farmer Joe originally paid $ for this land. The land sat on top of a reservoir of oil, which when pumped out resulted in total depletion expenses to Farmer Joe of $ The farmland currently has a value of $ if it is used as farmland; however, a developer who wants to build a shopping plaza on the farmland has offered Farmer Joe $ for the farmland. What is the fair value of the farmland? A $ B $ C $ D $ 
Farmer Joe owns farmland along a busy highway. Farmer Joe originally paid $ for this land. The land sat on top of a
reservoir of oil, which when pumped out resulted in total depletion expenses to Farmer Joe of $ The farmland currently
has a value of $ if it is used as farmland; however, a developer who wants to build a shopping plaza on the farmland has
offered Farmer Joe $ for the farmland. What is the fair value of the farmland?
A $
B $
C $
D $
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