Real Estate Math
The New York State transfer tax on a $1,200,000 sale is ($2 per $500):
A$2,400
B$4,800✓ Correct
C$12,000
D$2,000
Explanation
NY transfer tax = $2 per $500 of consideration. $1,200,000 ÷ $500 = 2,400 units.
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