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On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set for
On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set for April 1. What will be the seller's credit for the property taxes already paid if the buyer pays for the day of closing? Use a 360-day year and a 30-day month. Your answer: $285 Correct answer: $288
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