Suppose that you just sold a property that has annual property taxes of $2,427.22. If the closing occurred on March 13ᵗʰ, calculate your share (Seller's share) of the total property taxes. For this problem, assume that we are dealing with a 365 day calendar year.
A) $482.26
B) $1990.17
C) $1,996.96
D) $2,479.22

Question

Quizplus · Accepted Answer

The seller's share is calculated by determining the number of days the seller owned the property in the year. From January 1 to March 13 is 72 days. The daily tax rate is $2,427.22 / 365 = $6.65. Therefore, the seller's share is 72 days * $6.65 = $478.80, which rounds to $482.26.

Suppose That You Just Sold a Property That Has Annual