Find the Sales Tax for the Item Using a Sales $\$ 49.39$

question 214

Multiple Choice

Find the sales tax for the item using a sales tax rate of 5%. Purse, $51.99

• A) \(\$ 49.39\)
• B) \(\$ 2.60\)
• C) \(\$ 0.96\)
• D) \(\$ 26.00\)
• E) \(\$ 4.94\)

---

Definitions:

EBIT

Earnings Before Interest and Taxes, a measure of a firm's profit that includes all incomes and expenses except interest and income tax expenses.

Interest Expense

The cost incurred by an entity for borrowed funds.

Capital Structure

The composition of a company's funding, including debt, equity, and other financial instruments, which defines how a company finances its overall operations and growth.

Debt

Money that is owed or due to be paid, typically resulting from borrowing funds to be repaid with interest.