The Bourassas decide to sell a home for $410,000. They are charged a real estate commission of 7% of the selling price, title insurance that is 1.6% of the selling price, and an escrow fee of $775. (a) What amount (in dollars) do the Bourassas receive after fees? $? (b) What percentage of the selling price was fees? Round to the nearest tenth of a percent. %?

The Bourassas decide to sell a home for $410,000. They are charged a real estate commission of 7% of the selling price, title insurance that is 1.6% of the selling price, and an escrow fee of $775. (a) What amount (in dollars) do the Bourassas receive after fees? $? (b) What percentage of the selling price was fees? Round to the nearest tenth of a percent. %?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter8: Taxation Of Individuals

Section: Chapter Questions

Problem 38P

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