Mike decides to develop a plot of land. He bought 200 acres for $70 per acre. After development, he sold half of the acreage for $200 per acre. How much profit did he make? Give me reasons, before answering the question
He bought the land for 200 * 70 = $14000. He sold 200 / 2 = 100 acres. He got 100 * 200 = $20,000 from selling this. So he made a profit of 20,000 - 14,000 = $6,000. So the final answer is 6000.