Problem: country c imposes a two - tiered tax on imported cars : the first tier imposes a tax of 12 % of the car ' s price up to a certain price level . if the car ' s price is higher than the first tier ' s level , the tax on the portion of the price that exceeds this value is 8 % . if ron imported a $ 12,000 imported car and ended up paying $ 1440 in taxes , what is the first tier ' s price level ?
Rationale: "let t be the tier price , p be total price = 12000 per the given conditions : 0.12 t + 0.08 ( p - t ) = 1440 - - - - > t = 12000 . d is the correct answer ."
annotated_formula: divide(subtract(1440, multiply(multiply(multiply(const_3, multiply(const_2, const_3)), const_1000), divide(8, const_100))), subtract(divide(12, const_100), divide(8, const_100)))