A residential lot purchased 3 years ago for $10,000 has doubled in value. The house on the lot cost $40,000 and it increased $20,000 in value. If the house and lot are sold at market value today, how much profit will be realized?

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The lot is now worth: 10,000 324,328 2 = 20,000. The house is now worth: 40,000 + 20,000 = 60,000. The total value is 20,000 + 60,000 = 80,000 which is 30,000 more than they paid for the property ( 80,000 - 50,000).

A Residential Lot Purchased 3 Years Ago for $10,000 Has