Real Estate Math
A Florida buyer pays $250,000 for a property and makes $30,000 in improvements. Five years later, they sell for $320,000, paying a 6% commission and $2,000 in closing costs. What is the net profit?
A$70,000
B$18,800✓ Correct
C$48,800
D$50,800
Explanation
Total cost basis = $250,000 + $30,000 = $280,000. Sale proceeds = $320,000.
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