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If a Property Transaction Is Scheduled to Close on May

Question 18

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

Correct Answer:

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