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A rancher is going to build a 3-sided cattle enclosure with a divider down the middle as shown to the right. The cost per foot of the 3 side walls will be $4/foot, while the back wall, being taller, will be $8/foot. If the rancher wishes to enclose an area of 384 ft2, what dimensions of the enclosure will minimize his cost?
Fair Market Value
The price at which an asset would sell under normal conditions, where both buyer and seller are informed and willing.
Voting Trust
An arrangement where shareholders' voting rights are transferred to a trustee, usually for the purpose of ensuring unified action or to resolve conflicts.
Share Titles
The formal documents that serve as evidence of ownership of stocks or shares in a corporation.
Trustee
A person or firm that holds and administers property or assets for the benefit of a third party.
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