A company earned a total revenue of N108 million with a total cost of N91...

JAMB 1994

A company earned a total revenue of N108 million with a total cost of N91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.

A. N24.65 million
B. N17.00million
C. N9. 35 million
D. N7.65million

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Correct Answer: Option C

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