An auction house charges a commission of 16% on the first $50,000 of the sale price of an item, plus 10% on the amount of of the sale price in excess of $50,000. What was the price of a painting for which the house charged a total commission of $24,000?	Choose the correct choice from the following options:
A) $115,000	B) $160,000	C) $210,000	D) $240,000	E) $365,000
Say the price of the house was $x, then 0.16*50,000+0.1*(x-50,000)=24,000 --&gt; x=$210,000 (16% of $50,000 plus 10% of the amount in excess of $50,000, which is x-50,000, should equal to total commission of $24,000).   Answer: $210,000.
<result>C</result>
An auction house charges a commission of 16% on the first $50,000 of the sale price of an item, plus 10% on the amount of of the sale price in excess of $50,000. What was the price of a painting for which the house charged a total commission of $24,000?