Determine total transaction costs

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Reference no: EM1345327

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?

Reference no: EM1345327

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