Real Estate Math
Property taxes for a year are $3,600. The property closes on April 30. Using a 365-day year, how much are the seller's prorated taxes (Jan 1 - Apr 30 = 120 days)?
A$1,183.56
B$1,200.00✓ Correct
C$1,150.00
D$900.00
Explanation
Daily rate = $3,600 / 365 = $9.863.
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