Real Estate Math
A property sells for $410,000. The county transfer tax is $1 per $500 of the sale price. What is the transfer tax due?
A$410
B$820✓ Correct
C$1,025
D$2,050
Explanation
Transfer tax = ($410,000 ÷ $500) × $1 = 820 × $1 = $820. Using the values given ($410,000, $1), apply the appropriate formula..
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