The city of Trafficville, Virginia has an old 2-lane bridge that is a major source of congestion. The bridge is on a state road which is currently used by the local residents, commuters going to and from a nearby college, and out of state workers from Tennessee commuting to work in Virginia. The city plans to replace the bridge with a brand new 6-lane bridge but it will require funding which the city will need to raise. The residents of Trafficville, VA are currently subject to the city imposed real estate tax and also pay the VA state income tax. The down payment for the cost of the bridge was provided in part by VA taxpayer funds and by Trafficville, VA real estate tax funds. The city has two options to pay for the cost of the bridge: Option 1: Raise the city real estate 1% and raise the state income tax rate 1%. Option 2: Impose a $3 toll to cross the bridge. Which option would you vote for and why? Explain your position. 1. You must take the point of view of a Trafficville city resident. 2. You must take the point of view of a Tennessee resident. Requirements: 1. Using your knowledge of tax law a) Calculate the cost or tax effect of both Options 1 and 2. Which option would you vote for? Explain your position. b) What type of citizen would benefit most from a $3 toll? Is this system fair?