Abu sells mutual funds for CIBC. On mutual funds sales, CIBC charges a "front-end load" or gross commission rate of 5%. Abu is paid on a graduated

commission structure. He receives 30% commission on the first $50 000 worth of mutual funds he sells in a month, 40% commission for the next $50

000 worth of mutual funds, and 75% commission on all additional sales in the same month. What is Abu's commission for a month in which he sells

$150 000 worth of mutual funds?