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Gundersons Hardware paid $3,118.40 last year in property taxes. Find the fair market value of the property if the tax rate is $2.60 per $100

Gundersons Hardware paid $3,118.40 last year in property taxes. Find the fair market value of the property if the tax rate is $2.60 per $100 with an assessment rate of 80% of fair market value. Round to the nearest whole dollar.

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