Real Estate Math
An Oregon homeowner bought their home 5 years ago for $350,000 and is selling it today for $520,000. Selling costs (commission + closing costs) were 7% of the sale price. What is the net profit from the sale (excluding taxes)?
A$133,600✓ Correct
B$134,000
C$136,400
D$145,000
Explanation
Selling costs = $520,000 × 0.07 = $36,400.
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