Answer:
<u>The correct answer is D. $ 508.50</u>
Step-by-step explanation:
1. Let's review the information provided to us to answer the question correctly:
Price of the home purchased by Brant = $ 339,000
Down payment = 25%
Intangible tax = 0.2% = 0.002
2. Which of the following is the total amount of the intangible tax?
Let's recall the formula to calculate the intangible tax:
Intangible tax = (Price of the home - Down payment) * 0.002
Intangible tax = (339,000 - 0.25* 339,000) * 0.002
Intangible tax = (339,000 - 84,750 ) * 0.002
Intangible tax = 254,250 * 0.002
Intangible tax = $ 508.50
<u>The correct answer is D. $ 508.50</u>
