If the personal income tax rate is lowered from 45% to 30%, what is the differential savings for a tax payer having an annual income before tax to the tune of $48000?	Choose the correct choice from the following answers.
A) $ 3500 B) $ 5000 C) $ 3150 D) $ 7200 E) $ 10000

Rationale: saving = ( 45 - 30 ) % of 48000 = 7200 . answer : d
Answer: D