In Country X a returning tourist may import goods with a total value of $500 or less tax free, but must pay an 8 percent tax on the portion of the total value in excess of $500. What tax must be paid by a returning tourist who imports goods with a total value of $730 ?
Options
A) $ 58.40	B) $ 40 . 00	C) $ 24.60	D) $ 18.40	E) $ 16.00

Rationale: the tourist must pay tax on $ 730 - $ 500 = $ 230 . thus the amount to be paid is 0.08 * $ 230 = $ 18.40 . answer : d .
Answer: D