Andrew is the owner of a commercial development property and has executed an Exclusive Right to Sell Listing Agreement with Blue Sky Commercial Properties which calls for a sales commission that will be equal to 7% of the first $1 Million in sales price, 6% on the second $1Million of Sales Price, and 5% on any remainder. The property is subsequently sold for a total of $4,750,000.00. Based on this information, what is the total commission due to Blue Sky Commerical Properties?
A) $294,500
B) $297,000
C) $298,750
D) $302,500