Solve.Ms. Steiner takes out a loan to buy a fixer-upper house. She then spends $4576 in repairs and improvements. She sells the house for $87,550 but pays the new owners $2740 in closing costs. If the payoff for the loan that she took out to buy the house is $70,012, what is her net? Is it a profit or loss?
A. $10,217; profit
B. $10,222; profit
C. -$159,398; loss
D. $15,702, profit
Answer: B
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