Real Estate Math
A Missouri property closes on March 15. Annual property taxes are $3,840. Using a 365-day year, how much does the seller owe the buyer at closing for taxes (seller's portion January 1 through March 15)?
A$778.85✓ Correct
B$759.73
C$840.00
D$960.00
Explanation
Days: Jan (31) + Feb (28) + 15 days March = 74 days. Daily tax = $3,840 / 365 = $10.
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