Based on the amount being taxed, the period of taxation, and the tax, the annual percentage of tax is 19.96%.
What is the annual tax percentage?
Assuming this rate was x, the following formula would apply:
Annual rate/ 365 days a year x number of days x amount to be taxed = Tax amount
Solving gives:
x/365 x 32 x 8,000 = 140
701.369863x = 140
x = 140 / 701.369863
= 19.96%
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