Calculate the mechanics lien amount a subcontractor can claim for $35,000 in unpaid work, including allowable interest at 8% annual rate over 6 months.
Correct Answer
B) $36,400
Lien amount = $35,000 + ($35,000 × 0.08 × 0.5) = $35,000 + $1,400 = $36,400
Why This Is the Correct Answer
Lien amount = $35,000 + ($35,000 × 0.08 × 0.5) = $35,000 + $1,400 = $36,400
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