The city of Springvale imposes a net income tax on businesses operating within its jurisdiction. The tax equals 1% of income up to $100,000 and 1.5% of income in excess of $100,000. The Springvale Bar and Grill generated $782,00 net income this year. Compute its city income tax.
A. $10,230
B. $11,230
C. $11,730
D. none of these