Real Estate Math
A Florida property sold for $560,000 with doc stamps on the deed at $0.70/$100. The intangible tax on a $448,000 note is $0.002/$1 (old rate, historical context). What are the doc stamps on the deed?
A$3,920✓ Correct
B$4,200
C$3,850
D$5,600
Explanation
Doc stamps on deed = ($560,000 ÷ 100) × $0.70 = 5,600 × $0.
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