Real Estate Math
Indiana state documentary stamp tax is assessed at $0.10 per $100 of the sale price. What is the tax on a $325,000 sale?
A$162.50
B$325.00✓ Correct
C$3,250.00
D$32.50
Explanation
Tax = ($325,000 ÷ $100) × $0.10 = 3,250 × $0.10 = $325.00. Using the values given ($0.10, $100), apply the appropriate formula.. The correct answer is $325.00.. This is a common calculation on the Indiana real estate exam.
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