The Owner Listed a Property for 140% More Than She

question 50

Short Answer

The owner listed a property for 140% more than she paid for it 12 years ago. After receiving no offers during the first 3 months of market exposure, she dropped the list price by 10%, to $172,800. What was the original price that the owner paid for the property?

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Definitions:

Summary

A brief statement or account of the main points of something, often used to provide a quick understanding or overview.

Accounting Statements

Financial reports that provide a summary of a company’s financial condition, including income statement, balance sheet, and cash flow statement.

P/E Ratios

Price-to-Earnings Ratio, a measure of a company's current share price relative to its per-share earnings.

Quick Ratio

A financial metric that measures a company's ability to meet its short-term obligations with its most liquid assets.