Escrow & Title
A Mississippi property purchase closes on October 15. Annual property taxes are $2,400. Using a 365-day proration, the seller's share of taxes (Jan 1–Oct 15 = 288 days) is approximately:
A$1,200
B$1,892✓ Correct
C$1,545
D$2,000
Explanation
Daily rate = $2,400 ÷ 365 = $6.575/day.
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