100(0.40v - x) The value of residential property for tax purposes is usually much lower than its actual market value. If v is the market value the assessed value for real estate taxes might be only 40% of v Suppose that the property tax, T. in a community is given by the function Teft, v, x) = where v is the estimated market value of a property (in dollars), x is a homeowner's exemption (a number of dollars depending on the type of property), and r is the tax rate (stated in dollars per hundred dollars) of net assessed value. (a) Determine the real estate tax on a property valued at $200,000 with a homeowner's exemption of $6500, assuming a tax rate of $2 50 per hundred dollars of net assessed value The real estate tax on the property is SL (Type an integer or a decimal) (b) Determine the tax due if the tax rate increases by 10% to 52.75 per hundred dollars of net assessed value Assume the same property value and homeowner's exemption If the tax rate increases by 10% the tax due on the property is $] (Type an integer or a decimal) Does the tax due also increase by 10%? Yes No