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Mr. Hernandez, who was a resident of State X for only 8

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Status: Waiting for Decisions
Joined: 23 Dec 2012
Posts: 43
Location: India
Sahil: Bansal
GMAT 1: 570 Q49 V20
GMAT 2: 690 Q49 V34
GPA: 3
WE: Information Technology (Computer Software)
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Kudos [?]: 16 [0], given: 42

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Mr. Hernandez, who was a resident of State X for only 8 [#permalink] New post 02 Aug 2013, 09:29
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A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

82% (01:31) correct 18% (01:40) wrong based on 11 sessions
Mr. Hernandez, who was a resident of State X for only 8 months last year, had a taxable income of $22,500 for the year. If the state tax rate were 4 percent of the year’s taxable income prorated for the proportion of the year during which the taxpayer was a resident, what would be the amount of Mr. Hernandez’s State X tax for last year?

(A) $900
(B) $720
(C) $600
(D) $300
(E) $60
[Reveal] Spoiler: OA
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Joined: 24 Aug 2009
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Schools: Harvard, Columbia, Stern, Booth, LSB,
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Re: quant income tax [#permalink] New post 02 Aug 2013, 10:11
bsahil wrote:
Mr. Hernandez, who was a resident of State X for only 8 months last year, had a taxable income of $22,500 for the year. If the state tax rate were 4 percent of the year’s taxable income prorated for the proportion of the year during which the taxpayer was a resident, what would be the amount of Mr. Hernandez’s State X tax for last year?

(A) $900
(B) $720
(C) $600
(D) $300
(E) $60


Total tax for the year = 22,500 x 4% = 900
As stated Annual tax is prorated as per the duration of stay.
Prorated Tax = 900 (8/12) = 600
Answer C
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Re: quant income tax   [#permalink] 02 Aug 2013, 10:11
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Mr. Hernandez, who was a resident of State X for only 8

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