Real Estate Math
Using a 360-day method, a seller who closes on day 90 (March 31) has prepaid annual property taxes of $4,320. How much does the buyer owe the seller?
A$1,080
B$3,240✓ Correct
C$1,200
D$2,160
Explanation
Days remaining = 360 − 90 = 270 days. Daily tax rate = $4,320 ÷ 360 = $12/day.
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