Pierce wishes to purchase a municipal bond with a par value of $500 from Arapahoe County, and he is trying to decide which broker he should employ to purchase the bond. Broker A charges a 3.1% commiss

Pierce wishes to purchase a municipal bond with a par value of $500 from Arapahoe County, and he is trying to decide which broker he should employ to purchase the bond. Broker A charges a 3.1% commission on the market value of each bond sold. Broker B charges a flat $24 for each bond sold. If the bond has a market rate of 88.754, which broker will give Pierce the better deal, and by how much?