A verified survey shows a site area of 11,500 square feet. Using 43,560 square feet per acre, what is the area in acres, to the nearest 0.01 acre?
Correct Answer
B) 0.26 acres
11500/43560=0.264 acres; rounded to nearest 0.01 acre=0.26 acre. Common errors: using 40,000 square feet per acre instead of 43,560 gives 0.29 acres; misplacing the decimal (4,356 square feet per acre) gives 2.64 acres; misplacing the decimal (435,600 square feet per acre) gives 0.03 acres.
Why This Is the Correct Answer
Option B is correct because 11,500 / 43,560 = 0.264 acres, which rounds to 0.26 acres. One acre equals 43,560 square feet. Rounding to the nearest hundredth gives 0.26.
Why the Other Options Are Wrong
Option A: 0.03 acres
Option A, 0.03 acres, results from misplacing the decimal and dividing by 435,600: 11,500 / 435,600 = 0.03. The correct divisor is 43,560, giving 11,500 / 43,560 = 0.26 acres.
Option C: 0.29 acres
Option C, 0.29 acres, comes from using 40,000 square feet per acre: 11,500 / 40,000 = 0.29. An acre is 43,560 square feet, so 11,500 / 43,560 = 0.26 acres.
Option D: 2.64 acres
Option D, 2.64 acres, results from misplacing the decimal and dividing by 4,356: 11,500 / 4,356 = 2.64. The correct calculation is 11,500 / 43,560 = 0.26 acres.
Acre equals 43,560
Memorize 43,560 square feet per acre; square feet to acres, divide; acres to square feet, multiply.
How to use: Use this for any land area conversion between square feet and acres.
Exam Tip
Do a quick reasonableness check: a typical residential lot of about 11,500 SF is roughly a quarter acre, not 3 acres or 0.03 acre.
Common Mistakes to Avoid
- -Rounding an acre to 40,000 square feet
- -Misplacing the decimal in 43,560
- -Multiplying instead of dividing when converting to acres
Concept Deep Dive
Analysis
This question tests conversion of square feet to acres. Divide the square footage by 43,560 square feet per acre and round to the nearest 0.01 acre.
Background Knowledge
One acre equals 43,560 square feet, and one square mile equals 640 acres. Converting square feet to acres means dividing by 43,560; converting acres to square feet means multiplying. Site size is a basic element of site description and comparison.
Real-World Application
A survey reports a lot area of 11,500 square feet, while the MLS listing says one-quarter acre. The appraiser converts the survey area to 0.26 acres and reports the verified figure.
More Property Description Questions
An undamaged but functionally inadequate system causes a supported $60,000 loss. Replacement costs $85,000 and restores only $60,000, with no other benefits. What loss classification and deduction fit?
The subject is a 10-year-old dwelling with improvement cost new of $640,000. A highly comparable 7-year-old dwelling recently sold for $580,000; at the sale date its site was worth $150,000 and its improvement cost new was $500,000. Market evidence shows depreciation accruing evenly with actual age. What is the depreciated value of the subject improvements?
Observed sale prices are $450,000, $475,000, $425,000, $500,000, $440,000. Calculate the range (maximum−minimum), to the nearest dollar.
Observed values are 100, 105, 110, 115, 120. Calculate the range (maximum−minimum).
For an arithmetic illustration only, depreciate a historical $2,000,000 construction cost on a zero-salvage straight-line 40-year schedule for 10 years. What unindexed scheduled amount remains? This is not a conclusion of current market value or current replacement cost.
For an arithmetic illustration, allocate historical construction cost $2,400,000 over 40 years on a zero-salvage equal annual schedule. After 8 years, what scheduled unindexed amount remains? This is not a current market-value conclusion.
For an arithmetic schedule only, allocate historical cost $2,500,000 over 40 years with zero residual. After 8 years, what unindexed scheduled amount remains? This is not an estimate of current market value.
The sale-price range is $45,000 and the maximum is $385,000. Find the minimum price.
A property is purchased for $1,500,000 with a loan of $1,200,000. Using the purchase price as the value, what is the loan-to-value ratio, as a percentage to one decimal?
Improvement cost new is $1,800,000. Separately supported improvement depreciation deductions of $200,000, $150,000, $100,000 are expressly nonoverlapping and not already excluded from cost new. No site is included. What depreciated improvement amount results?
People Also Study
Real Estate Market
13.6% of exam
Land or Site Valuation
4.5% of exam
Sales Comparison Approach
16.4% of exam
Cost Approach
13.6% of exam
Income Approach
8.2% of exam
Related Tools
Previous Question
A comparable has two garage bays and the subject three. Relevant market evidence supports an $8,000 marginal contribution for this additional bay. What signed adjustment applies to the comparable?
Next Question
A cost of $500,000 is allocated in equal annual charges over 40 years with no salvage value. What is the annual charge?