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Question: lionel has to pay a penalty for filing his taxes...

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Lionel has to pay a penalty for filing his taxes late. The IRS charges 2% in interest for each month the payment is late. Lionel's original tax bill was $7,000, but he now owes $7,883.14. How many years late is his payment?

A) 6.0 years B) 0.8 years C) 1.2 years D) 0.5 years E) 0.2 years

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