Answer:
Python code is as follows:
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#function to get number up to any number of decimal places
def toFixed(value, digits):
return "%.*f" % (digits, value)
print("Enter the price: ", end='', flush=True) #prompt for the input of price
price = float(input()) #taken input
totalCost = price + 0.05 * price #calculating cost
print("Total Cost after the sales tax of 5% is applied: " + toFixed(totalCost,2)) #print and output totalCost
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