Inflation was 8 percent during the most recent year and your organization's investment in land rose 12 percent.

Inflation was 8 percent during the most recent year and your organization's investment in land rose 12 percent. If the beginning appraised land value was $1,000,000, what increase in specific prices over general price level would be reported, stated in year-end dollars?

A.$20,000

B.$40,000

C.$43,200

D.None of the above