A Piece of Property Valued at $2,000,000 Is Assessed for Property

Multiple Choice

A piece of property valued at $2,000,000 is assessed for property tax purposes at 70% of its value. If the property tax is $20.00 on each $1,000.00 of assessed value, what is the amount of tax?

A) $23,700.00
B) $4,000.00
C) $28,000.00
D) $12,000.00
E) $40,000.00