Answer:
$11,111.11
Step-by-step explanation:
Net Money farmer wanted to get the on selling 1 acre = $10,000
Percentage of commission and closing cost incurred by him = 10%
out of 100 %, he will incur cost of 10%,
rest of them will be with him.
In percentage money he would have be = (100 - 10)% = 90%
Thus, 90 % will be net money he would have.
Let the list price be $x
Given that 90% of this $x will be with farmer which is equal to
90% of x = 90/100 * x = 0.9 x
It is given that he wants to net $10000
so 0.9x = $10,000
=> x = $10,000/0.9 = $11,111.11.
Listing price per acre should be at least $11,111.11.
