Real Estate Math
A property is listed at $450,000 with a 5.5% commission. If the broker and cooperating broker split the commission 50/50, how much does each brokerage receive?
A$11,250
B$12,375✓ Correct
C$13,750
D$24,750
Explanation
Total commission = 5.5% × $450,000 = $24,750.
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