Real Estate Math
A co-op in Manhattan sells for $1,750,000. The NYC mansion tax at 1.25% applies for sales between $1.5M and $2M. What is the mansion tax?
A$17,500
B$21,875✓ Correct
C$35,000
D$25,000
Explanation
NYC mansion tax = $1,750,000 × 1.25% = $1,750,000 × 0.
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