Real Estate Math
A North Carolina property has an assessed value of $240,000. The tax rate is $1.10 per $100 of assessed value. What is the annual tax?
A$2,400
B$2,520
C$2,640✓ Correct
D$2,760
Explanation
Annual tax = ($240,000 / $100) x $1.10 = 2,400 x $1.
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