Answer:
Option a - $5,535 would be correct
Step-by-step explanation:
Market value of Ricardos home = $123,000
Municipality taxes at = 75% of the value
= 75% of 123,000 = 0.75 × 123,000
= $92,250
Taxes will pay at the amount $92,250 at the rate 60$ per thousand.
Therefore we divide this amount to 1000.
= 92,250 ÷ 1000 = 92.25
Tax rate is $60 for one thousand, therefore
60 × 92.25 = $5,535
Ricardos pay $5,535 in taxes.
Option A would be correct.
