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What should the total value of tax bills sent to residents

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Question - The City of Santa Fe needs to raise $5,000,000 to fund its Fiscal Year 2011 budget. Because of the local economy condition, the city expects uncollectable taxes to rise from their historical average of 5% to 9% this year. What should the total value of tax bills sent to residents be to collect the needed amount?

A. 5,494,505

B. 5,263,158

C. 5,208,333

D. 5,450,000

Reference no: EM133090876

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