James buys a property closing June 1st. The seller prepaid annual taxes of $3,000. How much does James owe the seller?
Correct Answer
C) $1,750.00
James owes for June-December (7 months). $3,000 ÷ 12 × 7 = $1,750
Why This Is the Correct Answer
James owes for June-December (7 months). $3,000 ÷ 12 × 7 = $1,750
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