Real Estate Math
A Massachusetts property sells for $1,100,000. The deed excise tax is $4.56 per $1,000. What is the total deed excise tax owed?
A$5,016✓ Correct
B$5,500
C$4,560
D$11,000
Explanation
Deed excise = ($1,100,000 ÷ $1,000) × $4.56 = 1,100 × $4.
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