Ace the Michigan Real Estate Salesperson Exam 2026 – Unlock Your Future in Real Estate!

To find the approximate price per acre of the parcel of land, we first need to calculate the area of the land in square feet. The area can be found by multiplying the length by the width:

Area = Length × Width

Area = 485 ft × 1,210 ft

Area = 587,850 square feet.

Next, we convert square feet into acres since there are 43,560 square feet in one acre:

Area in acres = Area in square feet ÷ Square feet per acre

Area in acres = 587,850 sq ft ÷ 43,560 sq ft/acre

Area in acres ≈ 13.48 acres.

Now that we have the area in acres, we can determine the price per acre by dividing the total selling price by the number of acres:

Price per acre = Total selling price ÷ Area in acres

Price per acre = $122,000 ÷ 13.48 acres

Price per acre ≈ $9,056.

This calculation shows that the approximate price per acre of the land is around $9,056, which corresponds to the correct answer. This process emphasizes the importance of converting units appropriately and ensuring accurate calculations when evaluating real estate values.