Wallis company produces circuit boards in a foreign country that imposes a 15 percent vat. this year, wallis manufactured 8.3 million boards at a $5 material cost per unit. wallis labor and overhead added $1 to the cost per unit. wallis sold the boards to various customers for $7.50 per unit for a net profit of $1.50 per unit.
how much vat does wallis company owe?