Your cousin purchased a refrigerator at Costco for $794.90. The delivery charge was $24.99, and the ice maker hookup amounted to $50. The state sales tax is 6.375 %, and the city tax is 1.25%. (a) What is the total amount of sales tax on the refrigerator? (b) What is the total purchase price?

Your cousin purchased a refrigerator at Costco for $794.90. The delivery charge was $24.99, and the ice maker hookup amounted to $50. The state sales tax is 6.375 %, and the city tax is 1.25%. (a) What is the total amount of sales tax on the refrigerator? (b) What is the total purchase price?

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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Question

Your cousin purchased a refrigerator at Costco for $794.90. The delivery charge was $24.99, and the ice maker hookup amounted to $50. The state sales tax is 6.375 %, and the city tax is 1.25%.

(a) What is the total amount of sales tax on the refrigerator?

(b) What is the total purchase price?

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