21) The subject farm property has 80 acres of irrigated cropland, 120 acres of pasture, and 40 acres of woodland. Comparable A has 150 acres of irrigated cropland and 80 acres of woodland. Comparable A sold for $735,000. Assuming the market has indicated that pasture sells for 75% of irrigated cropland prices and woodland sells for 50% of irrigated cropland prices, what is the value of the subject farm?

21) The subject farm property has 80 acres of irrigated cropland, 120 acres of pasture, and 40 acres of woodland. Comparable A has 150 acres of irrigated cropland and 80 acres of woodland. Comparable A sold for $735,000. Assuming the market has indicated that pasture sells for 75% of irrigated cropland prices and woodland sells for 50% of irrigated cropland prices, what is the value of the subject farm?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter2: Income Tax Concepts

Section: Chapter Questions

Problem 67IIP

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