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
Explanation
Correct Option
cNo explanation available
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Akinaldo
9 years ago
#108m - #91m= #17m, 45% * #17m= #7,650,000, Net Profit= #17m - #7,650,000 = #9,350,000
