Calculate all applicable documentary stamp taxes and intangible taxes associated with financing the transaction for a property located in Pinellas County. Purchase price: $67,550 Earnest money: $4,000 Recorded first mortgage (assumed): $27,800 Second mortgage (new): $14,700 Cash at closing: $21,050

Calculate all applicable documentary stamp taxes and intangible taxes associated with financing the transaction for a property located in Pinellas County. Purchase price: $67,550 Earnest money: $4,000 Recorded first mortgage (assumed): $27,800 Second mortgage (new): $14,700 Cash at closing: $21,050

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Calculate all applicable documentary stamp taxes and intangible taxes associated with financing the transaction for a property located in
Pinellas County.
Purchase price: $67,550
Earnest money: $4,000
Recorded first mortgage (assumed): $27,800
Second mortgage (new): $14,700
Cash at closing: $21,050
A) $326.90
O B) $178.15
C) $233.75
D) $ 80.85

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