1. Martys new condo cost him $320,000 and he put down 10% and financed the balance in a 30 year fixed mortgage. He recently learned that he could sell this condo for $385,000. If he does sell and gets his price and his realtor takes the same 5% commission, what would be his ROR if the mortgage payoff figure is $286,500?

1. 148%
2. 103%
3. 93%
4. 137%