TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

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A Tennessee auctioneer sells 200 lots at an auction with total gross sales of $80,000. The auctioneer's commission is 15%. Advertising costs were $2,000 and venue rental was $1,500 — both charged to the seller per the contract. What is the net amount due to the seller?

$$64,500 $$65,500 $$68,000 $$76,500

Correct Answer:

$$64,500

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