If you have a piece of land you are selling that is 13.88 acres (604162.8 sq ft) and you are selling it at $4.95 / square ft. The buyer wants to know what the equivalent land price is in $ / acre. How would you go about setting this problem up?
What I did was
1 Acre = 43560 Square Feet
1 Acre = 43560 * $4.95, thus $215,622 per acre
13.88 acres total * $215,622 per acre = $2,992,833.36
is this correct, if so how do I go about checking this (e.g. plugging in numbers), I checked it by saying 13.88 acres = 604612.8 sq ft x $4.95 (per sq ft) = $2,992,833.36. Is this correct, could I have solved by using something fancier like algebra instead of juggling it around like I did?