After completing a review of the CMA, a sales associate and a seller agree on a list price of $240,000. Seller's expenses, including brokerage fee, are estimated at $17,600, and prorations for taxes and interest paid in arrears are estimated at $6,700. The mortgage payoff is expected to be $196,500. What is the estimated net proceeds to the seller?

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.