Real Estate Math
A Charleston, WV property is assessed at $120,000 by the county assessor. The assessment ratio is 60% of market value. What is the estimated market value?
A$72,000
B$180,000
C$200,000✓ Correct
D$160,000
Explanation
Market Value = Assessed Value / Assessment Ratio = $120,000 / 0.60 = $200,000.
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