Answer :
Increase in price = $25.02 - $24.00
= $1.02
Tax rate = [tex] \frac{1.02}{24.00} [/tex]
Tax rate = 0.0425
0.0425 = 4.25%
= $1.02
Tax rate = [tex] \frac{1.02}{24.00} [/tex]
Tax rate = 0.0425
0.0425 = 4.25%