Real Estate Math
A Missouri property has an assessed value of $38,000 (residential at 19% of market value). What is the market value?
A$72,200
B$182,000
C$200,000✓ Correct
D$722,000
Explanation
Assessed Value = Market Value x Assessment Ratio. $38,000 = Market Value x 0.19. Market Value = $38,000 / 0.19 = $200,000.
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