A buyer values a house at $525,000 and a seller values the same house at $485,000 . If sales tax is 8% and is levied on the buyer, then, what would be the highest price that the buyer would be willing to pay?
a. $525,000
b. $523,800
c. $485,000
d. $486,111
d
Economics
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Indicate whether the statement is true or false
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