In the first quarter of the year (January through March), a commission merchant sold several consignments of construction equipment, some used and some new. The sales price was $112,900 for the new equipment and $58,400 for the used equipment. The
merchant charges commission rates of 10% to sell new equipment and 15% to sell used equipment. The merchant paid total freight charges of $2,490 to have the equipment delivered to the various buyers. Compute the net proceeds from the sales.
$112,900 + $58,400 = $171,300 . $112,900 × 0.10 = $11,290;
$58,400 × 0.15 = $8,760; $11,290 + $8,760 + $2,490 = $22,540;
$171,300 - $22,540 = $148,760
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