Suppose you buy lunch for $17.00 that includes a 8% sales tax. How much did the restaurant charge you for the lunch (excluding any tax) and how much does the restaurant owe for sales tax? (Do not round intermediate calculations. Round the answers to 2 decimal places.) $15.74 for lunch and $1.26 for sales tax. $17.00 for lunch and $1.36 for sales tax. $17.00 for lunch and $1.26 for sales tax. $15.64 for lunch and $1.36 for sales tax.

Suppose you buy lunch for $17.00 that includes a 8% sales tax. How much did the restaurant charge you for the lunch (excluding any tax) and how much does the restaurant owe for sales tax? (Do not round intermediate calculations. Round the answers to 2 decimal places.) $15.74 for lunch and $1.26 for sales tax. $17.00 for lunch and $1.36 for sales tax. $17.00 for lunch and $1.26 for sales tax. $15.64 for lunch and $1.36 for sales tax.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter2: Income Tax Concepts

Section: Chapter Questions

Problem 18P

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