Problem 02-03 (Algo) [LO 2-1] The city of Clement levies a 5 percent tax on the base price of rooms provided by hotels and motels located within the city limits. This year, the aggregate room price subject to tax was $14 million, so current year revenue was $0.70 million. Clement's city council recently voted to increase the hotel tax rate to 6 percent for the next fiscal year. Required: a. Compute next year's hotel tax revenue assuming next year's tax base equals the current year base. b. Compute next year's hotel tax revenue assuming next year's tax base decreases to $11 million. c. Compute next year's hotel tax revenue assuming next year's tax base decreases to $8 million. Complete this question by entering your answers in the tabs below. Required A Required B Required C ces Compute next year's hotel tax revenue assuming next year's tax base equals the current year base. Note: Enter your answer in millions rounded to 2 decimal places. Tax revenue million Required A Required B >