We have the price of a 2-acre lot that is sold for $327,000.
We have to find the price per square foot.
We will use this equivalency: 1 acre = 43560 square foot.
We can find the equivalent area as:
[tex]A=2\text{ acre}*\frac{43560ft^2}{1\text{ acre}}=87120\text{ ft}^2[/tex]We then can calculate the price per square foot by dividing the total price by the area:
[tex]p=\frac{\$327000}{87120\text{ ft}^2}\approx3.75\text{ \$/ft}^2[/tex]Answer: $3.75 [Second option]
