Querrey Incorporated and Ronno Incorporated conduct business in a foreign country that imposes a 3 percent VAT. Querrey produces entertainment videos at a $7.8 material cost per unit and sells the videos to Ronno for $11.0 per unit. Ronno sells the videos at retail for $12.7 per unit. This year, the combined efforts of Querrey and Ronno resulted in sales of 10.3 million videos to the public. Required: Compute the VAT for each corporation. Note: Enter your answers in dollars not in millions of dollars. Querrey Incorporated Ronno Incorporated VAT