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Carol Reeve Bought a New Fur Coat for $12,000

Question 70

Short Answer

Carol Reeve bought a new fur coat for $12,000. She must pay a 7.5% sales tax and a 10% excise tax. The furrier is shipping the coat, so Carol must also pay a $30 shipping charge. What is the total purchase price of the coat?

Correct Answer:

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7.5% + 10% = 17.5%; ...

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