A house sold for $400,000. The mortgage on the house is $300,000. The documentary stamp tax on the deed is $0.70 per $100 or portion thereof. How much is the documentary stamp tax on the deed? (2 points)
a
$210
b
$280
c
$2,100
d
$2,800
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Answer:
(b) $2,800.
Step by step explanation:
$400,000 = $4,000 hundred.
Multiply: $4,000×$0.70= $2,800.
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