Hey there!
Let's start by simply finding 1% of $400,000.
To do this we can divide by 100, since 1% is the same thing as 1/100.
400,000 ÷ 100 = 4,000
Next, we can multiply 4,000 by 15, because 4,000 is 1% and we are looking for 15%.
4,000 x 15 = 60,000
This means the tax is $60,000.
Hope this helps!
