Real Estate Math
A Delaware property sells for $295,000. The state and county transfer tax combined rate is 4%. If the buyer and seller split this equally, how much does each pay?
A$2,950
B$5,900✓ Correct
C$11,800
D$14,750
Explanation
Total transfer tax = $295,000 × 4% = $11,800. Each party pays $11,800 ÷ 2 = $5,900.
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