NH Auctioneer Practice Questions - New Hampshire Licensed Auctioneer Exam

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In calculating the total proceeds from an auction, which formula correctly determines the buyer's total cost when a buyer's premium and sales tax apply?

Hammer price + buyer's premium + tax on hammer price only Hammer price + buyer's premium + tax on (hammer price + buyer's premium) Hammer price + tax on hammer price (buyer's premium is not taxable) Buyer's premium + tax on buyer's premium only

Correct Answer:

Hammer price + buyer's premium + tax on (hammer price + buyer's premium)

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