If the personal income tax rate is lowered from 40% to 33%, what is the differential savings for a tax payer having an annual income before tax to the tune of $45000? Choose the correct choice from the following choices
A) $ 3500  B) $ 5000  C) $ 3150  D) $ 7000  E) $ 10000

Rationale: "saving = ( 40 - 33 ) % of 45000 = 3150 . answer : c"
Answer: C