Sandy Irwin has ownership positions in several commercial real estate properties and also manages the operations of Mictown Apartmentsone of the propertles in which she has ownership. At present, Nidtewn Apartments is under contract to sell for $5,175,000. Midtown is owned by a single puarpose entity, Hidtown Properties (MP). MP is, in turn, owned by three different legal entities. Sandy has an ownership interest in two of the threesI Properties and Irwin Family Properties. Sandy owns 75 percent of SI Properties. SI Properties owns 30 percent of MP. Sandy alse owns 25 percent of Irwin Family Properties. Irwin Family Properties owns 40 percent of MP. Sandy will be paid $50,000 for her management of Hidtown Apartments when the units sell. Selling expenses are anticipated to be 8 percent of the sales price, and there is a mortgage balance of $3,520,000. How much will Sandy receive in cash on the sale date? Opzars s433.325 425,325 1417,75 Sandy Irwin has ownership positions lin several commercial real estate properties and also manages the operations of Nidtown Apartmentsone of the properties in which she has ownership. At present, Midtown Apartments is under contract to sell for $5,175,000. Midtown is awned by a single purpose entity, MHidtown Properties (MP). MP is, in turn, owned by three different legal entities. Sandy has an ownership interest in twe of the threesI Properties and Irwin Family Properties. Sandy owns 75 percent of SI Properties. SI Properties owns 30 percent of MP. Sandy also ewns 25 percent of trwin Family Properties. Irwin Family Properties owns 40 percent of MP. Sandy will be paid $50,000 for her management of Midtown Apartments when the units sell. Selling expenses are anticipated to be 8 percent of the sales price, and there is a mortgage balance of $3,520,000, How much will Sandy receive in cash on the sale date? $37,75 s433.325 $45.325 437 075