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Mike pays $8,000 in property taxes, but receives a 28% tax deduction for it. What is Mike’s net expense for property taxes
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5 votes
Mike pays $8,000 in property taxes, but receives a 28% tax deduction for it. What is Mike’s net expense for property taxes

User Bgenchel
by
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2 Answers

5 votes

Answer:

the answer is he pays 2,240 in property taxes now

User Roberto Bisello
by
8.1k points
4 votes
Answer: 5,760

Steps:
8,000 * .28 = 2,240 —> tax deduction
8,000 - 2240 = 5,760


Tip: Move the decimal place two spots to the left to make a percent a decimal.
User Dforce
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7.6k points
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