The table below presents the annual revenue collections and tax rate for the College City...
50.1K
Verified Solution
Link Copied!
Question
Accounting
The table below presents the annual revenue collections and tax rate for the College City beer tax from FY 2011 to FY 2017. A city council member has asked you to determine the long run organic or natural growth in beer tax revenue. Which of the responses below is accurate?
Fiscal Year
City Beer Tax Revenue
Tax Rate(in cents per gallon)
2011
$1,000,000.00
22
2012
$1,022,100.00
22
2013
$1,056,851.40
22
2014
$1,081,581.72
22
2015
$1,180,698.48
24.2
2016
$1,238,160.27
24.2
2017
$1,274,066.92
24.2
A) 4.12% per year on average from FY 2011 to FY 2017.
B) 4.15% per year on average from FY 2011 to FY 2017.
C) 2.48% per year on average from FY 2011 to FY 2017.
D) 3% per year on average from FY 2011 to FY 2017.
E) All of the above.
F) None of the above.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
