If a Property Transaction Is Scheduled to Close on May

Multiple Choice

If a property transaction is scheduled to close on May 14ᵗʰ, calculate the individual tax responsibility for the buyer if the total tax owed at the end of the year is $5,000. For this problem, assume that we are dealing with a 365 day calendar year.

A) $0.00
B) $1,821.92
C) $3,178.08
D) $5,000.00