Real Estate Math
A property sells for $260,000. Transfer tax in Minnesota is $1.65 per $500 of purchase price. What is the transfer tax?
A$429
B$858✓ Correct
C$520
D$1,300
Explanation
Number of $500 units = $260,000 ÷ $500 = 520. Transfer tax = 520 × $1.
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