f you planned on using profit before tax as the benchmark to compute overall materialityand performance materiality, how would you compute those amounts for 2013? Prepare andjustify your calculations.bDetermine overall materiality and performance materiality using either total assets or totalrevenues as the benchmark. Make the calculations by utilizing both 0.25 per cent and 2 percent, the endpoints of the range that your firm guidance provides.cAssume that during the course of the 2013 audit you discovered misstatements totalling 50million (approximately 50 per cent of the 2013 profit before tax of 105 million). Discusswhether this amount of misstatement is material given your benchmark calculations fromparts a and b above.