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Assume an assessment rate of 40% of market value and a millage rate of 6.5 mils. What is the market value of a house that

Assume an assessment rate of 40% of market value and a millage rate of 6.5 mils. What is the market value of a house that pays a tax of $292.50?

$45,000

$35,000

$75,000

$112,500

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