Bob owns a home, which is free and clear. He recently purchased a new home. The contract to purchase the new home however, has a contingency that Bob's current home be sold within 60 days and that Bob net $19,500 from the sale after all expenses have been deducted. Bob employs broker Jones to assist him in the sale of the property. The broker is to receive a 6% commission and there will be an escrow fee of $300. How much must the home in Irvine sell for in order to net Bob $19,500?
