A corn field with a depth of 900 feet and a frontage of 484 feet is bisected by an access road, leaving two triangular lots. If the land sells for $2,000 per acre, how much is each lot worth?
A. $2,000
B. $10,000
C. $20,000
D. $100,000
Answer: B. $10,000
Each lot is worth $10,000. One way to solve this problem is to find the area of one of the triangular lots. Use the triangle area formula, Area = 1/2 base x height (900 feet x 484 feet = 217,800 square feet). Convert this to acreage (217,800 square feet / 43,560 square feet per acre = 5 acres), and then multiply by the cost per acre (5 acres x $2,000 = $10,000). Alternatively, you can use the rectangular area formula (Area = Length x Width) to find the area of the entire corn field (900 feet x 484 feet = 435,600 square feet), divide to convert the square footage to acreage ( 435,600 square feet / 43,560 square feet per acre = 10 acres), multiply by the cost (10 acres x $2,000 = $20,000), and divide by 2 to find the cost of one of the lots ($20,000 / 2 = $10,000).
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