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Ruralville is suffering a 1% annual loss of population and property values. Even so, Ruralville must maintain its tax collections at a constant value of

Ruralville is suffering a 1% annual loss of population and property values. Even so, Ruralville must maintain its tax collections at a constant value of $3.2 million. If the i nflation rate is 4.5%, what inflation rate in taxes for the remaining taxpayers is required for Ruralville to attain its goal? Ans = 1.01%

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