Answer:
$7,954
Explanation:
Calculation for the mortgage recording tax paid on a property
First step is to find the tax rate
Tax rate =2.05/100
Tax rate = 0.0205
Second step will be to multiply the percentage of the tax rate with the price of the property that was sold for the amount of $485,000,
0.0205 × $485,000
= $9,942.5
The third step will be to calculate the LTV which is fully known as loan to value which was given as 80 % in order for us to known mortgage recording tax paid on the property
Hence,
Mortgage recording tax paid on the property $9,942.5 × 0.8 =
Mortgage recording tax paid on the property $7,954
Therefore the Mortgage recording tax paid on the property that was sold for the amount of $485,000 will be $7,954
<span>1- The company’s cost of equity is 12.34%. The answer is letter c.
2- The bank’s cost of preferred stock is 6.10%. The answer is letter a.
3- The pretax cost of debt is 7.60%. The answer is letter c.
4- The Mullineaux Corporation WACC is 10.02%. The answer is letter b.
5- The company's WACC is 10.53%. The answer is letter c.
6- The company’s WACC is 8.20%. The answer is letter a.
</span>
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