Real Estate Math
A Wisconsin property was appraised at $375,000. The buyer offers 98% of appraised value. The transfer tax ($3/$1,000) will be based on the sale price. What is the transfer tax?
A$1,076
B$1,099
C$1,102✓ Correct
D$1,125
Explanation
Sale price = $375,000 × 98% = $367,500. Transfer tax = ($367,500 / $1,000) × $3 = 367.
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