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Marianna [84]
3 years ago
11

Peyton sells an office building and the associated land on May 1 of the current year. Under the terms of the sales contract, Pey

ton is to receive $1,867,200 in cash. The purchaser is to assume Peyton's mortgage of $1,120,320 on the property. To enable the purchaser to obtain adequate financing, Peyton is to pay the $22,406 in points charged by the lender. The broker's commission on the sale is $74,688. What is Peyton's amount realized
Business
1 answer:
marissa [1.9K]3 years ago
5 0

Answer: $‭2,890,426‬

Explanation:

= Cash received + Mortgage assumed - Points paid by Peyton - Broker's ,commission

= 1,867,200 + 1,120,320 - 22,406 - 74,688

= $‭2,890,426‬

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