To find the price per front foot when a buyer purchases a lot of 110 feet by 140 feet for $7,568, we first need to define what the ‘front foot’ means in this context. The front foot typically refers to the width of a property that is along the street or access point.
In this case, the lot is 110 feet wide. Now, to calculate the price per front foot, we divide the total price of the lot by the width of the lot:
Price per front foot = Total price of the lot / Width of the lot
Substituting the values into the formula:
Price per front foot = $7,568 / 110 feet
Calculating this gives:
Price per front foot = $68.71 (approximately)
Therefore, the price per front foot for the lot is approximately $68.71.