A condominium is taxed based on its $78,792 value. The tax rate is $3.46 for every $100 of value. If the tax is paid before March 1, 3% of the normal tax is given as a discount. How much tax is paid if the condominium owner takes advantage of the discount?
A condominium is taxed based on its $78,792 value. The tax rate is $3.46 for every $100 of value. If the tax is paid before March 1, 3% of the normal tax is given as a discount. How much tax is paid if the condominium owner takes advantage of the discount?
Chapter4: Income Exclusions
Section: Chapter Questions
Problem 72IIP
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Transcribed Image Text:A condominium is taxed based on its $78,792 value. The tax rate is $3.46 for every $100 of value. If the tax is paid before March 1, 3% of the normal tax is given as a discount. How much tax is paid
if the condominium owner takes advantage of the discount?
(Round to two decimal places as needed)
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