When a merchant imported a certain item, she paid a 7 percent import tax on the portion of the total value of the item in excess of $1,000. If the amount of the import tax that the merchant paid was $111.30, what was the total value of the item?
Answers.
A) $ 2380  B) $ 2590  C) $ 2760  D) $ 2940  E) $ 3150

Rationale: "let x be the value of the item . 0.07 * ( x - 1000 ) = 111.30 x = 2590 the answer is b ."
Answer: B