Multiple Choice
Kate sells property for $120,000.The buyer pays $2,000 in property taxes that had accrued during the year while the property was still legally owned by Kate.In addition,Kate pays $6,000 in commissions and $2,000 in legal fees in connection with the sale.How much does Kate realize from the sale of her property?
A) $112,000.
B) $114,000.
C) $116,000.
D) $120,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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