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Tpy6a [65]
3 years ago
14

A property is under contract for a sales price of $357,800. The buyer will assume the seller's outstanding loan balance of $225,

000, secure a second mortgage for $100,000, and pay the remainder in certified funds at settlement. On the settlement statement, the seller will be charged excise tax in the amount of
A. $265.60
B. $358.00
C. $715.60
D. $716.00
Business
1 answer:
Anastasy [175]3 years ago
3 0

Answer:

D. $716.00

Explanation:

357,800 / 500 = $715.60

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