Real Estate Math
A property sells for $720,000. The state conveyance tax is 0.75% on the first $800,000. What is the conveyance tax?
A$3,600
B$4,800
C$5,400✓ Correct
D$6,000
Explanation
Conveyance tax = $720,000 × 0.0075 = $5,400.
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