Alvin Cobought a piece of land in 1991 for $160,000 which appreciated in value at the rate of 3% per year for the first three years and then at the rate of 4% for the next four years. Find its value after 7 years.

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
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Alvin Cobought a piece of land in 1991 for $160,000 which appreciated in value at the rate of 3% per year for the first three years and then at the rate of 4% for the next four years. Find its value after 7 years.

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