Beanie Wants to Purchase Cecil's House

Multiple Choice

Beanie wants to purchase Cecil's house. The most that Beanie is willing to pay is$300,000. The least that Cecil is willing to accept is $250,000. Suppose that any failure to reach an agreement reduces Beanie's and Cecil's gain by 7 percent. If there is no limit to the number of bargaining rounds, how much should Beanie offer for the house?

A) An amount between $282,700 and $282,750
B) An amount between $279,950 and $280,000
C) An amount between $276,000 and $276,050
D) An amount between $274,050 and $274,100
E) An amount between $275,500 and $275,550