A developer was buying land. He bought 4 acres at $1,863 per acre. He then split the land he purchased into 9 lots. How much should he sell each lot for just to break even? Give me reasons, before answering the question
His purchase cost is 4 acres * $1863 = $7452. He divided the land into 9 plots, so the price per lot would be $7452 / 9 = $828. So the final answer is 828.