Real Estate Math
A Kentucky property was purchased for $200,000. After 7 years, it is assessed at $265,000 for tax purposes. The county tax rate is $0.95 per $100. What is the annual property tax?
A$1,900
B$2,118
C$2,517✓ Correct
D$2,800
Explanation
Annual tax = ($265,000 ÷ 100) × $0.95 = 2,650 × $0.
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