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Querrey Inc. and Ronno Inc. conduct business in a foreign country that imposes a 3 percent VAT. Querrey produces entertainment videos at a $6 material cost per unit and sells the videos to Ronno for $9 per unit. Ronno sells the videos at retail for $10 per unit. This year, the combined efforts of Querrey and Ronno resulted in sales of 12.4 million videos to the public. Compute the VAT for each corporation. (Enter your answers in dollars not in millions of dollars. VATQuerrey Inc.$0Ronno Inc.
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Querrey Inc. and Ronno Inc. conduct business in a foreign country that imposes a 3 percent VAT. Quer...
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