Country M levies a $10$ percent excise tax on the retail price of any automobile purchased in the country. This year, the aggregate purchase price subject to tax was $$7\mathrm{.}5$ million, so current year revenue was $$750,000.$ Country M plans to increase the tax rate next year to $11$ percent.

Required:

Compute next year$$s excise tax revenue assuming next year$$s tax base equals the current year base.

Compute next year$$s excise tax revenue assuming next year$$s tax base increases to $$8\mathrm{.}8$ million.

Compute next year$$s excise tax revenue assuming next year$$s tax base decreases to $$6\mathrm{.}5$ million.$\backslash$

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