Real Estate Math
A Texas home under contract lists $3,200 in prorated property taxes at closing. If taxes for the full year are $7,680, how many days of the year has the seller owned the property until closing?
A152 days✓ Correct
B158 days
C168 days
D175 days
Explanation
Daily tax rate = $7,680 ÷ 365 = $21.04/day. Days = $3,200 ÷ $21.04 = 152 days.
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