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On May 1 5 , 2 0 2 3 , Eric Martin signed a contract to purchase a rental house for $ 1 9 5

On May 15,2023, Eric Martin signed a contract to purchase a rental house for $195,000. Closing is to occur on June 8,2023, with the day of closing to be counted as a day of ownership by the buyer. Eric can assume the sellers first mortgage, which will have a balance of $149,000 during June. The seller, Reuben Smith, has agreed to take a second mortgage of $30,000 as part of the payment at closing. Eric paid an escrow deposit of $10,000 when he signed the purchase contract. Other pertinent facts include:On May 15,2023, Eric Martin signed a contract to purchase a rental house for $195,000. Closing is to occur on June 8,2023, with the
day of closing to be counted as a day of ownership by the buyer. Eric can assume the seller's first mortgage, which will have a balance
of $149,000 during June. The seller, Reuben Smith, has agreed to take a second mortgage of $30,000 as part of the payment at
closing. Eric paid an escrow deposit of $10,000 when he signed the purchase contract. Other pertinent facts include:
a. The June interest on the first mortgage is $745, which will be paid at the end of the month.
b. Reuben paid a hazard insurance policy for the calendar year 2023. The premium was $850, and Eric has agreed to purchase
Reuben's interest in the policy.
c. The monthly rental of $1,250 has been collected by Reuben for June.
d. The total amount of property tax for 2023 is estimated to be $2,200. The tax will be paid by Eric at the end of the year.
e. The broker will pay the following expenses for Reuben and will be reimbursed at the closing:
f. The broker will also pay the following expenses for Eric and will be reimbursed at the closing:
Required:
How will the items be prorated between the seller and buyer?
Note: Do not round intermediate calculations and round your final answers to 2 decimal places.
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