What is the price per acre if a section of land sold for $1 million?

To determine the price per acre when a section of land is sold for $1 million, it is essential to know how many acres are in a section of land. In the United States, a section is typically defined as 640 acres.

To find the price per acre, you divide the total price of the land by the number of acres in a section:

[

\text{Price per acre} = \frac{\text{Total price}}{\text{Number of acres}} = \frac{1,000,000}{640}

]

Calculating this gives:

[

\text{Price per acre} = 1,562.50

]

This calculation shows that the correct answer, $1,562.50, accurately represents the price per acre for the land sold at $1 million. Understanding the conversion of total land area into appropriate units is crucial in real estate calculations, which is why this answer is grounded in fundamental land measurement principles. Other numerical choices, such as $22.95, $22,960, and $15,625, do not align with the correct division of the total sale price, reinforcing that the proper calculations are essential for accurate results in real estate transactions.