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Querrey Incorporated and Ronno Incorporated conduct business in a foreign country that imposes a 3 percent VAT. Querrey produces entertainment videos at a $ 5

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Querrey Incorporated and Ronno Incorporated conduct business in a foreign country that imposes a 3 percent VAT. Querrey produces entertainment videos at a $5.80 material cost per unit and sells the videos to Ronno for $8.10 per unit. Ronno sells the videos at retail for $8.90 per unit. This year, the combined efforts of Querrey and Ronno resulted in sales of 9.40 million videos to the public.
Required:
Compute the VAT for each corporation.
Note: Enter your answers in dollars not in millions of dollars.
\table[[,VAT],[Querrey Incorporated,],[Ronno Incorporated,]]
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