The portion of a group purchase of land and a buildup for $648,000 allocated to land,when the land is appraised at $170,000 and the building on the land is appraised at $510,000 is

Question

Quizplus · Accepted Answer

The total value of the land and building is $680,000 ($170,000 + $510,000).

To find the portion allocated to the land, we can use a proportion:

Portion allocated to land / $648,000 = $170,000 / $680,000

Simplifying this, we get:

Portion allocated to land = $162,000

Therefore, the answer is choice B, $162,000.

The Portion of a Group Purchase of Land and a Buildup