Real Estate Math
A commercial property sells for $2,000,000. The Georgia transfer tax at $1 per $500 is:
A$2,000
B$4,000✓ Correct
C$400
D$20,000
Explanation
Transfer tax = $2,000,000 ÷ $500 × $1 = 4,000 × $1 = $4,000. Using the values given ($2,000,000, $1), apply the appropriate formula.. The correct answer is $4,000.. This is a common calculation on the Georgia real estate exam.
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