Your OIEC$/$Principal Agent has requested that you determine how many properties the agency needs to sell to break$-$even. You are required to complete a break$-$even analysis to determine an approximate break$-$even point for the agency. Your agency has total expenses of approximately $$3,500,000$ per annum and for the past two years your average commission rate has been $2\mathrm{.}23\%$ per property. Your average selling price in the last two years has been $$627,000.$ There is no property management income.