Real Estate Math
A property sold for $295,000 and the recordation tax rate is $0.37 per $100 of consideration. How much is the recordation tax?
A$1,091.50✓ Correct
B$1,101.50
C$1,091.15
D$1,200.00
Explanation
$295,000 ÷ $100 = 2,950. Tax = 2,950 × $0.
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