In Township K each property is taxed at 8 percent of its assessed value. If the assessed value of a property in Township K is increased from $20,000 to $24,000, by how much will the property tax increase?	Choices:	A) $32	B) $50	C) $320	D) $400	E) $500
Property tax as a percentage of its assessed value = 8%   Increase in assessed value of the property = 24000 - 20000 = 4,000 $   Increase in property tax = (8/100)* 4000= 
<gadget id="calculator">(8/100)* 4000</gadget>
<output>320</output>
320 $   Answer $320
<result>C</result>
In Township K each property is taxed at 8 percent of its assessed value. If the assessed value of a property in Township K is increased from $20,000 to $24,000, by how much will the property tax increase?