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Your parents' small business purchases undeveloped land for $150,000 and, after a few years, forgets...

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Accounting

Your parents' small business purchases undeveloped land for $150,000 and, after a few years, forgets that they own it. You inherit the land after 55 years. What is the land worth if it returned 5.5% annually over the 55 years?

Group of answer choices $2,850,864 $2,181,294 $2,233,211 $1,989,888

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