Explore BrainMass

Explore BrainMass

    Business Finance - Total Transaction Costs

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Steve Bolten sold his sailboat for $225,000. He paid a sales commission of 10% ($22,500) to the boat brokers, had legal fees of $500, and had additional selling costs of $1,000. What are Steve's total transaction costs? What are his transaction costs as a percentage of the gross selling price?

    © BrainMass Inc. brainmass.com June 4, 2020, 3:13 am ad1c9bdddf
    https://brainmass.com/business/finance/business-finance-total-transaction-costs-504126

    Solution Preview

    Transaction costs:

    Sales commission fee ...

    Solution Summary

    This solution calculates the total transaction costs and transaction costs as a percentage of the gross selling price. This is based on the fact that Steve sold his boat for $225,000, paid sales commission, had legal fees, and had additional selling costs.

    $2.19

    ADVERTISEMENT