4. Award: 10.00 points If Cindy invests $1.000 at 8% and subsequently earns $48 in after-tax income on the investment at the end of the first year, what is Cindy's tax rate? 7. Award: O 4.8% O 8% 0 40% O 60% Investment income = $80 ($1,000 x 89%) $80 x (1 - x) = $48 x = 40%