Taxes on the property Buyer Alan is purchasing are $3,200 due on December 31. If the closing is set for October 15, using the 365-day method, how much of the taxes will be credited to the buyer?

The taxes credited to the buyer will be $675.

Explanation:

We will divide the total taxes due by 365 to get the taxable amount due per day and then multiply it by the days the seller held the property to calculate the amount due on him.

01 January - 15 October = 288 days

The seller's share is = * 288 = $2,524.93

The amount credited to the buyer will be $3,200 - $2,524.93 = $675

answer; depth;

the correct answer is b.)