Answer: I got 52.17391304%
Explanation:
If you are looking for a rate, you should use R=P/B where R is the % B is the base (23000) and P is the portion (12000) So, it would be set up like this R = 12000/23000
After I got my answer I double checked it by using the formula B = 52.17% x 12000 to see if I got 23000, but instead I got 11,999.10 because I rounded down the long percentage number from 52.17391304% to 52.17%, which would usually be ok and work just fine, but using 52.17% I got 11,999.10. Which is still extremely close to 12000, but not exact. So even though rounding down is usually a requirement in homework situations, this one seems to be an exact percentage with all the digits. Let me know if I can help further. I'm in accounting and I'm curious about this one and would like to know how it goes.