Real Estate Math
A Florida property sold for $445,000. The buyer paid doc stamps on the deed at $0.70/$100 and intangible (doc stamps on note) at $0.35/$100 on a $356,000 loan. Total government transfer taxes are:
A$4,361.00✓ Correct
B$4,360.50
C$3,115.00
D$5,605.00
Explanation
Doc stamps on deed = ($445,000 ÷ 100) × $0.70 = $3,115.
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