1a. Choi owns a four-unit apartment building with a fair market value of $248,000. Property in the area is assessed at 40% of market value and the tax rate is 5.5%. Find the amount of the property tax 1b. Choi buys 200 shares of Target at $56.30 and 100 shares of Pepsico at $68.73. Find the total cost ignoring commissions.