Out of state seller sold a property for $489,000. the property was highly leveraged resulting in cash proceeds to the seller of $5,500. how much should be withheld subject to the colorado department of revenue income tax?

a.$9780
b.$5500
c.$110
d.$978

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?