Real Estate Math
A Wisconsin vacant lot is 120 ft × 250 ft. The owner pays $0.15/sq ft in property taxes per year. What is the annual tax?
A$3,600
B$4,200
C$4,500✓ Correct
D$5,400
Explanation
Area = 120 × 250 = 30,000 sq ft. Tax = 30,000 × $0.15 = $4,500. Using the values given ($0.15), apply the appropriate formula.. The correct answer is $4,500.. This is a common calculation on the Wisconsin real estate exam.
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