They will pay net $229,030 after paying a 7.5% commission to their broker.
<h3>What is commission?</h3>
Commissions are a type of variable-pay compensation for provided services or sold goods.
Commissions are a typical method of encouraging and rewarding salespeople. It is also possible to create commissions to promote particular sales behaviors.
For instance, when offering significant discounts, commissions might be decreased.
When you buy, you normally pay a commission, and when you sell, you typically pay another commission. Investment commissions are not regarded by the IRS as a tax-deductible item.
Instead, the commission is included in the cost basis of the investment, giving you a small tax break.
<h3>Calculation of net payment:</h3>
= 100% - 7.5%
= 92.5%
= $247,600 x 92.5%
= $229,030
Hence, they will pay net $229,030 after paying a 7.5% commission to their broker.
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