Querrey Incorporated and Ronno Incorporated conduct business in a foreign country that imposes a $3$ percent VAT.

Querrey produces entertainment videos at a $$8\mathrm{.}00$ material cost per unit and sells the videos to Ronno for $$11\mathrm{.}30$ per

unit. Ronno sells the videos at retail for $$13\mathrm{.}10$ per unit. This year, the combined efforts of Querrey and Ronno resulted

in sales of $10\mathrm{.}40$ million videos to the public.

Required:

Compute the VAT for each corporation.

Note: Enter your answers in dollars not in millions of dollars.