Real Estate Math
A home sells for $425,000. Florida documentary stamp taxes on the deed are calculated at $0.70 per $100 (or fraction thereof). What are the doc stamps on this sale?
A$2,975.00✓ Correct
B$2,975.50
C$2,528.75
D$3,421.25
Explanation
Doc stamps on deed = $425,000 ÷ 100 × $0.70 = 4,250 × $0.
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