Real Estate Math
A Wisconsin home sells for $355,000. Transfer tax is $3/$1,000. The buyer and seller split the transfer tax equally. How much does each party pay?
A$532.50✓ Correct
B$1,065.00
C$2,130.00
D$4,260.00
Explanation
Total transfer tax = $355,000 ÷ $1,000 × $3 = $1,065. Each party's share = $1,065 ÷ 2 = $532.
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