Answer:
b. $302.50.
Explanation:
The computation of the total transfer due on the sale is shown below:
As we know that the transfer tax is $0.55 for $500
So for the amount i.e. equivalent to the sale value of the home i.e. $275,000
In this, the total transfer tax due is
= $275,000 ÷ $500 × 0.55
= $302.50
Therefore the option b is correct
And the other options are wrong
