Real Estate Math
A Utah investor purchased a property for $380,000 and sold it two years later for $432,000. After a 5% commission and $4,000 in closing costs, what was the net gain?
A$26,400✓ Correct
B$30,400
C$52,000
D$36,000
Explanation
Gross gain = $432,000 - $380,000 = $52,000. Commission = $432,000 × 5% = $21,600.
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