Find the Sales Tax for the Item Using a Sales

question 95

Short Answer

Find the sales tax for the item using a sales tax rate of 6%. Round your answer to the nearest cent.
Set of pots and pans, $151.95
$__________

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Definitions:

Profit Margin

A financial metric indicating the percentage of revenue that exceeds the cost of goods sold, highlighting a company’s profitability.

Net Income

The remaining earnings of a corporation after deducting all expenditures and tax obligations from its revenue.

Net Sales

The revenue generated from sales after deducting returns, allowances for damaged or missing goods, and discounts.

Market/Book Ratio

A financial ratio that compares a company's market value to its book value, providing an indication of investor expectations and valuation.