Mike sells his home to Jane on April 2, 2016. Jane pays the property taxes...
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Accounting
Mike sells his home to Jane on April 2, 2016. Jane pays the property taxes covering the full calendar year in October, which amount to $2,500. How much may Mike and Jane each deduct for property taxes in 2016?
Note: Because 2016 is a leap year, use 366 days in year. If required, round any division to five decimal places and use rounded amounts in subsequent computations. Round your final answers to the nearest dollar.
Mike deduction $
Jane deduction $
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