The Special Nozzle Fitting Pictured Sells for $42

question 1

Short Answer

The special nozzle fitting pictured sells for $42.72 per dozen, less discounts of 10%, 6%, and 2% off the starting price. Determine the discount price, to the nearest cent, of a dozen fittings.

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Definitions:

Sales Tax

A tax imposed by a government on sales of goods and services, collected by the retailer and passed on to the government.

Tax System

The structured way in which taxes are imposed in a country, including the collection of taxes from individuals and businesses.

Progressive

Referring to a tax system in which the tax rate increases as the taxable amount increases, leading to higher earners paying a higher percentage of their income in taxes.

Regressive

A term often used to describe a tax system where the tax rate decreases as the taxable amount increases, effectively placing a greater burden on those with lower incomes.