The Southside City Has $47 Million of Debt Recorded in Its

The Southside City has $47 million of debt recorded in its Schedule of Changes in Long-term Obligations, made up of $30 million of general obligation debt, $1 million of compensated absences payable, $4 million claims and judgments, and $12 million of obligations under capital leases.The State limits the amount of general obligation debt that can be issued by a City to 20% of the assessed value of its taxable property.The assessed value of property in Southside City is $250 million.The legal debt margin for Southside City is

A) $ 3 million.
B) $ 20 million.
C) $ 30 million.
D) $50 million.