We always learned that after reducing exponents and parentheses, you multiply and divide from left to right with equal priority, then add and subtract from left to right with equal priority. (No juxtaposition rule, and you do the operations in the order they come, not all of one type of operation first.)
So the way we learned math agrees with Lazer's answer of 288:
48 / 2(9+3)
48 / 2 * (12)
24 * 12
288
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