In Township K each property is taxed at 10 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?  Choose the correct option:
A) $32 B) $50 C) $320 D) $400 E) $500
Increase in house value = $24,000 - $20,000 =$4000   So, tax increase = 10% of$4000= $400   Answer: $400
<result>D</result>
In Township K each property is taxed at 10 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?