Brittany purchased an industrial lot in Sudbury for $1,100,000 and it was assessed at 65% of its purchase price. The annual property tax on the lot is 25 mills. a. Calculate the assessed value of the lot. Round to the nearest cent b. Calculate the property tax she would have to pay every year. Round to the nearest cent
Brittany purchased an industrial lot in Sudbury for $1,100,000 and it was assessed at 65% of its purchase price. The annual property tax on the lot is 25 mills. a. Calculate the assessed value of the lot. Round to the nearest cent b. Calculate the property tax she would have to pay every year. Round to the nearest cent
Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions
Section: Chapter Questions
Problem 31P
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Transcribed Image Text:Brittany purchased an industrial lot in Sudbury for $1,100,000 and it was assessed at
65% of its purchase price. The annual property tax on the lot is 25 mills.
a. Calculate the assessed value of the lot.
Round to the nearest cent
b. Calculate the property tax she would have to pay every year.
Round to the nearest cent
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT