Real Estate Math
A Nebraska buyer closes on November 1. Annual taxes of $6,000 are paid in arrears. The seller owned the property from January 1 through October 31 (304 days using a 365-day year). How much does the seller owe at closing?
A$16.44✓ Correct
B$5,000.00
C$4,800.00
D$5,150.00
Explanation
Daily rate = $6,000 ÷ 365 = $16.44/day.
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