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Source: Manhattan Prep
Each year, Company X’s local tax burden is computed by charging a set amount of $200 plus an additional 8 percent on all profit made over $10,000. What is the company’s local tax burden this year?
1) Company X made a profit of $60,000 this year.
2) Company X's local tax burden is equal to 7 percent of its profit this year.
The OA is D
Each year, Company X’s local tax burden is computed by charging a set amount of $200 plus an additional 8 percent on all profit made over $10,000. What is the company’s local tax burden this year?
1) Company X made a profit of $60,000 this year.
2) Company X's local tax burden is equal to 7 percent of its profit this year.
The OA is D
