(b). A business bills the customers 250,000 plus VAT of 50,000 at the standard rate in its first year. The Flat Rate applicable to their business is 18.5% (1% discount). Compute the profit for the business (4 marks) Business Administration Program Final Assessment Semester Spring 2021 Page 3 Anjali, an Engineer, received the following income in 2017/2018: 18,000 Dividends from a UK company Building society interest 18,400 She is paid allowable interest of 4,000 on 31st August Required: Calculate her income tax liability for 2017/2018, and assuming her trading income for 2015/2016 was 67,000. (10 marks)