Find the profit received by the nursing home

Reference no: EM1344502

A not-for profit nursing home has total expenses of $20 million, sales tax in the state is 7%, expenses are broken down into salaries ($12 million), supplies ($6 million), and pharmacy ($2 million). The benefit received by the nursing home from the sales tax exemption assuming that pharmacy items are exempt from state sales tax is?

A. $1.4 million

B. $1.26 million

C. $420,000

D. $480,000

Reference no: EM1344502

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