Answer: $2000
Explanation:
From the question, we are informed that Development Associates (DA) agrees to buy five acres of land from Eastside Properties for $15,000 and that Eastside fails to go through with the deal on the agreed date, when the market price of the land is $17,000.
The amount that will be recovered by Development Associate will be the difference between the market price of the land on the agreed date and the initial amount that DA wanted to pay
This will be:
= $17,000 - $15,000
= $2000
