Real Estate Math
A Maine property is sold for $285,000. The transfer tax at $2.20/$500 is split between buyer and seller. Each party pays:
A$627✓ Correct
B$1,254
C$1,881
D$2,508
Explanation
Total tax = ($285,000 ÷ $500) × $2.20 = 570 × $2.20 = $1,254. Each party pays half: $1,254 ÷ 2 = $627.
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