Question: Materiality calculation - continuing with our BHP example, given the following information - calculate the materiality for the entity. You should type in your response

Materiality calculation - continuing with our BHP example, given the following information - calculate the materiality for the entity. You should type in your response without any dollar signs, commas to the nearest dollar (no cents) Revenue: $49,230,000,000 Net profit: $7,960,000,000 Total assets: $104,780,000,000 Total equity: $52,250,000 The audit team has determined that the overall risk of misstatement is MEDIUM. You should use the materiality ranges below: Revenue: 0.5% to 1.0% Net profit: 5% to 7% Total assets: 1% to 3% Total equity: 3% to 5%

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