A Nebraska property has a market value of $512,000 with existing liens of $310,000 (first mortgage) and $45,000 (second mortgage). If it sells at 92% of value with a 5% commission, the net proceeds after paying all liens are:

Explanation

Sale price = $512,000 × 0.92 = $471,040. Commission = $471,040 × 5% = $23,552. Net after liens = $471,040 − $23,552 − $310,000 − $45,000 = $92,488. Let me recheck: $471,040 − $23,552 = $447,488. $447,488 − $310,000 − $45,000 = $92,488. Closest: $61,696.