Finance
On a Rhode Island property selling for $350,000, what is the approximate Realty Transfer Tax owed?
A$700
B$1,610✓ Correct
C$2,300
D$3,220
Explanation
$350,000 / $500 = 700 units × $2.30 = $1,610. The Rhode Island Realty Transfer Tax on a $350,000 sale is $1,610.
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