You buy a bow and arrow costing $125. State taxes are 6.5% and the federal excise tax on this item is 13%. What is the total purchase price? (Round your answer to the nearest cent if necessary)

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Quizplus · Accepted Answer

First, calculate the state tax: $125 * 6.5% = $8.13. Then, calculate the federal excise tax: $125 * 13% = $16.25. Add these taxes to the original price: $125 + $8.13 + $16.25 = $149.38.

You Buy a Bow and Arrow Costing $125