Answer: $1,286.67
Explanation:
Yearly tax = $2,400
N.B: Seller gets the closing, Therefore seller pays for 5 months and 17 days starting from January - 17th June. While Bill and Grace pay the rest (18th June till December)
From the yearly tax amount, we can calculate both monthly and daily tax payment using the 12 month/30 days method.
Monthly tax = $2,400 ÷ 12 = $200
Daily tax = $200 ÷ 30 = $6.667
Total tax paid by Will and Grace:
18th June - December = 6 months 13 days:
6 months = 6 × $200 = $1,200
13 days = 13 × $6.667 = $86.671
$1,200 + $86.71 = $1,286.67
