A developer pay $2,000,000 to purchase a land to develop 40 townhouses. The annual interest rate is 12% on the funding financed the land, and the acquisition cost is 4% of the land price. The whole development period (from land acquisition to development disposal) is 24 months. • The construction cost of each townhouse is $350,000. The Infrastructure Cost is $100,000 per townhouse. The consultants' cost is $250,000, and the holding cost is $80,000. The annual interest rate on capital financing the subtotal cost related to construction if is 12%, and the construction period is 18 month. • The price of each townhouse is $650,000. Sales commission is 1.3% of the GRV, the marketing cost is $30,000. Other selling expenses (legal fee) is $1050 per townhouse. The developer needs to pay GST. • How much is the development profit/margin in dollar amount and percentage?