Real Estate Math
A Kansas property has an assessed value of $18,000 (at 11.5% of market value). What is the market value?
A$146,521
B$156,522✓ Correct
C$165,000
D$207,000
Explanation
Market Value = Assessed Value ÷ Assessment Ratio = $18,000 ÷ 0.115 = $156,521.74, rounded to $156,522.
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