4. Mario has spent $ 40000 to buy some land. The land increases in value...
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Accounting
4. Mario has spent $ 40000 to buy some land. The land increases in value by 5% each year. (i) What is the value of the land after the end of five years? At the end of five years, Mario sells the land. He pays 1% tax on the sale and spends the rest of the money on a car. The car loses value at a rate of $ 2500 every year. (ii) How much tax does Mario pay? (iii) How much is the car worth five years after Mario buys it
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