1. a. Given the information below on two prospective land uses and their associated probabilities and values, what is the estimated market value based on expected use analysis? What is the expected use? Overall Probability Use Value Distribution of Overall Probability $300,000 $320,000 $340,000 70 20% 30% 20% 30 15 15 b. Under the highest and best use premise, what is the estimated market 12

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