Answer:
$3,003
Explanation:
The computation of the annual taxes is shown below:
= (Given percentage × purchase price × mill rate) ÷ (1,000)
= (0.70 × $150,000 × 28.6) ÷ (1,000)
= (3,003,000) ÷ (1,000)
= $3,003
Hence, the annual taxes is $3,003
We simply applied the above formula so that the annual taxes could come and the same is to be considered
