Explanation Option (c): Tax that is collected from the total revenue can be calculated as follows. Taxes = Revenues − Borrowing − Proprietary income 100 million = 150 million − 40 million − 10 million 100 million = 100 million The tax collected from the total revenue is $100 million. Thus, option ‘c’ is correct. Option (a): Tax that is collected from the total revenue can be calculated as follows. Taxes = Revenues − Borrowing − Proprietary income 140 million = 150 million − 40 million − 10 million 140 million > 100 million The calculated value is less than the given value

Taxes. | bartleby

EP ECONOMICS,AP EDITION-CONNECT ACCESS

20th Edition

ISBN: 9780021403455

Author: McConnell

Publisher: MCGRAW-HILL HIGHER EDUCATION

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