QUESTION 2 (14 marks) Assume that all parties involved are registered VAT vendors, that the product involved is standard- rated throughout, and that the VAT rate is 15%. Required % Gross margin attained (as a %) 2.1. Complete the following table: Cost of the Selling price Gross profit Mark-up product in of the product earned per attained Rand value in rand value product sold (including (Including in Rand value VAT) VAT) Manufacturer 3 450 4 830 0 (ID) Wholesaler (iv) (v) 1 120 (vi) Retailer (viii) (ix) (x) (xi) (III) (vii) 16.5%