IL Auctioneer Practice Questions - Illinois Licensed Auctioneer Exam

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An auctioneer in Illinois holds a multi-parcel real estate auction. One bidder wins three parcels for $100,000, $75,000, and $125,000. The buyer's premium is 8%. What is the total the buyer owes?

$$300,000 $$318,000 $$324,000 $$330,000

Correct Answer:

$$324,000

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