Answer:
C) $457,600
Explanation:
Let x be the sales price of the property.
We know that the total commission, C, is 5.5% of x, which we can write as:
C = 0.055*(x)
We are told the (1/2) of the commission went to the selling agent and was equal to $12,584. That can be written as:
(1/2)*C = $12,584
Rearrange to isolate C: C = $25,168.
Use the value of C in the first equation:
C = 0.05*(x)
$25,168 = 0.055*(x)
The sales price, x, can now be calculated:
x = $25,168/(0.055)
x = $457,600