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A large commercial transaction just closed for a sales price of $5,750,000. How much commission did the listing firm earn if it will be paid 6% on the first million of the sales price; 5% on the 2nd million; and 3% for the remainder? please provide working ASAP а. $222,500 b. $202,500 C. $297,500 d. $345,000

A large commercial transaction just closed for a sales price of $5,750,000. How much commission did the listing firm earn if it will be paid 6% on the first million of the sales price; 5% on the 2nd million; and 3% for the remainder? please provide working ASAP а. $222,500 b. $202,500 C. $297,500 d. $345,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A large commercial transaction just closed for a sales price of $5,750,000. How much commission did the listing firm earn if it will be paid 6% on the first million of the sales price; 5% on the 2nd million; and 3% for the remainder? please provide working ASAP а. $222,500 b. $202,500 С. $297,500 d. $345,000
Transcribed Image Text:A large commercial transaction just closed for a sales price of $5,750,000. How much commission did the listing firm earn if it will be paid 6% on the first million of the sales price; 5% on the 2nd million; and 3% for the remainder? please provide working ASAP а. $222,500 b. $202,500 С. $297,500 d. $345,000
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