Question: Boxian Wu is a real estate developer in China. She recently sold an office building for 4 million yuan. She paid 2 million yuan for

Boxian Wu is a real estate developer in China. She recently sold an office building for 4 million yuan. She paid 2 million yuan for the land use rights and 1 million yuan for the cost of developing the building. What is Boxian’s Chinese land-appreciation tax on the transfer of this real estate?

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