Country C imposes a two-tiered tax on imported cars: the first tier imposes a tax of 12% of the car's price up to a certain price level. If the car's price is higher than the first tier's level, the tax on the portion of the price that exceeds this value is 8%. If Ron imported a $12,000 imported car and ended up paying $1440 in taxes, what is the first tier's price level?	Choose the correct choice from the following options
A) $1600  B) $6000  C) $6050  D) $1200  E) $8000
Let T be the tier price, P be total price = 12000   Per the given conditions:   0.12T + 0.08(P-T) = 1440 ----&gt; T= 12000. $1200 is the correct answer.
<result>D</result>
Country C imposes a two-tiered tax on imported cars: the first tier imposes a tax of 12% of the car's price up to a certain price level. If the car's price is higher than the first tier's level, the tax on the portion of the price that exceeds this value is 8%. If Ron imported a $12,000 imported car and ended up paying $1440 in taxes, what is the first tier's price level?