QMAT Mini-Test

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Section 1 - Problem Solving

 

Question 1 of 20

In a certain Canadian province, a person may inherit up to $8,000 tax free, but any amount in excess of $8,000 is taxed at a rate of 6%. If Tony inherits a total of $11,500, how much tax will he have to pay?

  • a)   $210
  • b)   $270
  • c)   $300
  • d)   $420
  • e)   $510