What is the sale price per acre for the 212 acres of Farmer Wright's farm that sold at auction?

Prepare for the Mississippi Auctioneers License Exam with flashcards and multiple-choice questions. Each question offers hints and explanations. Ace your exam!

To determine the sale price per acre, you divide the total sale price of the property by the number of acres sold. In this case, Farmer Wright's farm sold for 212 acres, and if the correct answer indicates a price of $1,275.00 per acre, it suggests that the total sale price was calculated as follows:

  1. Establish the total amount paid for the entire farm (which would typically be provided in the context of the question).
  1. Divide that total sale price by 212 acres.

When the calculation leads to $1,275.00 as the price per acre, it reflects a specific valuation process that factors in market conditions, the quality of the land, and demand at the time of sale. This figure represents a fair evaluation based on the market conditions, making it the correct answer in this case.

The other choices reflect different sale prices per acre, which would result from different total sale amounts. However, they do not represent the actual computed value based on the data from the auction sale of Farmer Wright’s farm. Using the correct total price that corresponds to the $1,275.00 figure confirms its accuracy.

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