The following data are for the akron division of consolidated rubber, inc.: sales $ 750,000net operating income $ 45,000average operating assets $ 250,000stockholders' equity $ 75,000residual income $ 15,000
for the past year, the minimum required rate of return was: a) 30%b) 12%c) 15%d) 6%

the answer is account d

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

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