Real Estate Math
A Maine investor purchases a foreclosure property for $185,000, spends $35,000 on renovations, and sells it for $260,000. The gross profit is:
A$40,000✓ Correct
B$75,000
C$185,000
D$260,000
Explanation
Total investment = $185,000 + $35,000 = $220,000. Gross profit = $260,000 − $220,000 = $40,000.
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