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dolphi86 [110]
3 years ago
15

On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set

for April 1. What will be the seller's credit for the property taxes already paid if the buyer pays for the day of closing? Use a 360-day year and a 30-day month.
Business
1 answer:
Vera_Pavlovna [14]3 years ago
6 0

<u>Given:</u>

Annual property tax = $1,140

Number of days = 91

<u>To find:</u>

Seller's credit for property tax

<u>Solution:</u>

The following is the calculation of the seller credit for property taxes,

\text{Seller credit for property taxes} = \text{Total tax}\times \frac{\text{Number of days}}{360}

On plugging-in the values we get,

\text{Seller credit for property taxes} = \$1,140\times\frac{91}{360}

\Rightarrow \$1,140\times0.25278 = \$288

Therefore, the seller's credit for property taxes is $288.

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When an economy is operating efficiently, the production of one more unit of a good will result in some loss of production of an
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Answer:

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I hope my answer helps you.

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PV(D2) = 3.185 /(1.22²) = 2.1399

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The incremental profit that is being earned for an additional single unit by subtracting the price of the product and all the variable cost that is associated with that product is the marginal contribution. It is the earnings that is obtained in total for paying all fixed expense and also for the profit generation.

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