There are three production stages required before a bicycle produced by Masi Bicicletia S.A. can be sold at retail for €3,500. The VAT rate is 15%. Find the total tax liability due. 
Definitions:
Liberty Party
Abolitionist political party that nominated James G. Birney for president in 1840 and 1844; merged with the Free Soil Party in 1848.
Political Movement
A collective effort by a group of people to advance their shared political, social, or ideological objectives.
Morality
Principles concerning the distinction between right and wrong or good and bad behavior.
Economics
The social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants.
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