When a merchant imported a certain item, she paid a 7 percent import tax on the portion of the total value of the item in excess of $1,000. If the amount of the import tax that the merchant paid was $110.60, what was the total value of the item?
Choose the correct choice from the following options:
A) $2160  B) $2370  C) $2580  D) $2790  E) $2950
Let x be the value of the item.   0.07*(x-1000) = 110.60   x = 2580   The answer is $2580.
<result>C</result>
When a merchant imported a certain item, she paid a 7 percent import tax on the portion of the total value of the item in excess of $1,000. If the amount of the import tax that the merchant paid was $110.60, what was the total value of the item?