Seller would get 407,869.81 currency units for the parcel of land.
This question is asking about the future value of the parcel of land in 7 years time.
To find the future value of an item given the rate of increase and a time period, use the formula:
Future value = Amount x (1 + rate) ^ number of periods
= 163,000 * ( 1 + 14%)⁷
= 163,000 x 2.50226879128704
= 407,869.81 currency units
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