First, calculate the area of the vacant land by multiplying the given dimensions.
Area = (80 ft)(200 ft)
Area = 16000 ft^2
Then, multiply the calculated area with the given price per ft^2.
Total price = ($2000/ft^2)(16,000 ft^2)
Total price = $32,000,000
The 10% commission of selling the land is equal to $3,200,000.
The money that the broker will receive will be 60% of the commission.
= (0.6)($3,200,000)
= $1,920,000
