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How much net amount will receive

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Problem 1: Carlo sold his house for PhP8,000,000. The real-estate agent got a 5% commission from the sales. From his commission, he has to pay BIR tax and other obligations required for the transfer of ownership of the property to the buyer. This expense represents 6% of his total commission. How much net amount will he receive?

Reference no: EM132698664

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