On january 1, george paid the $2,345 in taxes for the current year. if he sold the property on june 23 of that same year, how mu

Question

balandron [24]

2 years ago

11

On january 1, george paid the $2,345 in taxes for the current year. if he sold the property on june 23 of that same year, how mu

ch would he be credited at closing? (use a 360-day year.)

Business

1 answer:

m_a_m_a [10] · Answer 1 · 2022-04-17T14:49:56+03:00

m_a_m_a [10]2 years ago

3 0

<span>June 23 is the 174th day of a non-leap year. 174 is 48.3% of 360, therefore George should pay 48.3% of $2,345 to the Government. The government thus owes George, and should credit him 51.7% of $2345, which amounts to $1212.37</span>