Real Estate Math
A Tacoma property sells for $485,000. Washington's REET applies the first tier rate of 1.1% to the first $525,000. What is the REET owed?
A$5,335✓ Correct
B$4,850
C$5,500
D$6,500
Explanation
REET = $485,000 × 1.1% = $485,000 × 0.
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