Question: A man purchased a magazine at the airport for $2.79. The tax on the purchase was $0.12.What is the tax rate at the airport?

A man purchased a magazine at the airport for $2.79. The tax on the purchase was $0.12.What is the tax rate at the airport? The tax rate is %. (Round to the nearest percent as needed.)

Step by Step Solution

★★★★★

3.40 Rating (169 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Sol 9 Given that A a man purchased a ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...

Caterpillar Inc. has issued bonds with semi-annual coupon payments on a coupon rate of 8.50% p.a. The bonds will mature in 6 years' time and have a principal amount of $1,000. These are priced using...

A 40-year old man from Bellville, Ontario, Derek Schwager received a great deal of online reaction after he won the Cash For Life draw and decided to take the $1.5 million lump sum payout rather than...

Lois is purchasing an annuity that will pay $5,000 annually for 20 years, with the first annuity payment made on the date of purchase. What is the value of the annuity on the purchase date given a...

A man purchased a magazine at the airport for $ 2.69. The tax on the purchase was $0.18. What is the tax rate at theairport? The tax rate is -------%. (Round to the nearest percent as needed.)

The City of Sharpesburg received a gift of $950,000 from a local resident on June 1, 2012, and signed an agreement that the funds would be invested permanently and that the income would be used to...

Meeker Machine and Die Company has learned that a sophisticated piece of computer operated machinery is available to either buy or rent. The machinery will result in three employees being replaced,...

Polly Company purchased three buildings. Polly has assembled the following market data, based on commercial real estate sales in the area in the past six months, which can be used to indirectly...

During the fiscal year ended December 31, Swanson Corporation engaged in the following transactions involving notes payable: Aug. 6 Borrowed $12,000 from Maple Grove Bank, signing a 45-day, 12...

James worked at a Mercedes dealership owned by Bob Ross Buick (BRBI). In 2002, James was named sales representative of the year. None of the sales representatives met sales quotas established for...

Andy, Boon, Charles, Dennis and ET are the directors (the five directors) of Green Home Development Sdn Bhd (the Company). The Company was incorporated on 1st January 2012. The objects of the Company...

A Drive - In Restaurant is considering a new marketing idea. At this restaurant, diners have the choice of dining inside or staying in their cars to eat. To serve those dining in their cars, carhops...

Q1 Porter? Mintzberg? Synthesis? Analysis? Managing employee behavior so stratgegy can be successfully implemented?

Explain how risk financing as the final step in the process of risk management affects the activities prioritized by the divisional risk champions ( 2 0 ) marks

What missteps do you think Volkswagen s management team made in handling the scandal when the cheating was discovered?

Both Bond Bill and Bond Ted have 10.6 percent coupons, make semiannual payments, and are priced at par value. Bond Bill has 6 years to maturity, whereas Bond Ted has 23 years to maturity. Requirement...

Michelles trust is subject to 3.8% surtax on the lesser of the trusts net investment income or the excess of the trusts adjusted gross income over the $12,400 threshold (the highest trust tax rate)....

What is the maximum profit on a short position? Group of answer choices The gain is potentially unlimited ( i . e . , it could be greater than + 1 0 0 % ) . + 5 0 % + 1 0 0 % + 1 0 % + 3 0 %

The following information was drawn from the records of Moore Sales Company: Required a. Prepare a multistep income statement for each year. b. Prepare a common size income statement for each year....

Define deferred taxes. Where does the account Deferred Taxes appear in the financial statements?

Hansen Enterprises experienced the following events during 2013: 1. Acquired cash from the issue of common stock. 2. Provided services to clients for cash. 3. Paid utilities expenses with cash. 4....

This problem demonstrates the dependence of the future value of an annuity on the interest rate. Suppose $1000 is invested at the end of each year for 20 years. Calculate the future value if the...

Dakota intends to save for occasional major travel holidays by contributing $275 at the end of each month to an investment plan. At the end of every three years, she will withdraw $10,000 for a major...

Calculate the future value of an ordinary annuity consisting of quarterly payments of $1200 for five years if the payments earn 10% compounded quarterly for the first two years and 9% compounded...