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Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions The answer is $397,500. The solution is: Tract A: 100% - 20% = 80% = $150,000 sale price; Tract B: $300,000 cost + 20% profit = $300,000 x 1.20 = $360,000 sale price; A senior sales associate receives 60 percent of all sale commissions earned. His broker has listed a motel for $1,480,000. The listing contract specified a 6.5% sale commission for the first $600,000 of the selling price, 7.5% for the next $800,000, and 8.25% on the actual sale price exceeding $1.4 million. What will the sales associate's commission be if he sells the motel for the list price? -$54,450 The answer is $63,360. The solution is: $600,000 x .065 = $39,00 first increment; $105,600 x .60 share = $63,360 sales associate's split You bought a house for $195,000. You gave a deposit of $25,000, assumed a mortgage of $100,000, and signed a new second mortgage note for $70,000. What are the total state taxes due as a result of this transfer of property? -$1,265 The answer is $2,100. The solution is: $195,000 divided by $100 increments = 1,1950 taxable increments; $1,365 + 350 + $245 + $140 = $2,100 |