The value of residential property for tax purposes is usually much lower than its actual market value. If v is the market value, the assessed value for real estate taxes might be only 40% of v. Suppose that the property tax, T, in a community is given by the function T = f(r, v, x)= r 100 (0.40v-x) where v is the estimated market value of a property (in dollars), x is a homeowner's exemption (a number of dollars depending on the type of property), and r is the tax rate (stated in dollars per hundred dollars) of net assessed value. (a) Determine the real estate tax on a property valued at $300,000 with a homeowner's exemption of $5500, assuming a tax rate of $2.00 per hundred dollars of net assessed value. The real estate tax on the property is $ ☐ . (Type an integer or a decimal.)