Question: A city has a transfer fee at $1.00 for each $11,000 of the sales price and the state charges $1.50 per 500 of the sales

A city has a transfer fee at $1.00 for each $11,000 of the sales price and the state charges $1.50 per 500 of the sales price for real estate transactions. If the buyer pays 50% of the transfer taxes, what would be the sellers transfer tax be on the sale of a $400,000 home?

a) 2,000

b) 4,000

c) 6,000

d) 8,000

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