The total to be paid is 909.5.
You must do 7% of 850 which is 59.5 and add it to 850 which is 909.5
Answer: The selling price was $195,200
Step-by-step explanation:
Given:
Tax paid = $488
Rate = $1 per $400 = 1/400
Using the formula;
Tax = rate × selling price
Selling price = tax /rate
Selling price = $488/(1/400) = $488×400 = $195200
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