The city of Springvale levies a tax on the value of real property located within its city limits. The tax equals 2 percent of the property's assessed value up to $500,000 plus 4 percent of the value in excess of $500,000. Required: a. Compute the tax on real property valued at $302,000. b. Compute the tax on real property valued at $862,500. Complete this question by entering your answers in the tabs below. Required A Required B Compute the tax on real property valued at $302,000. Tay on real nmnartv