Neco 2023 Civic Education Question 20

A public officer receives an illegal bribe of \(\text{₦}500\,000\). Under the Anti‑Corruption Act, the officer must pay a fine equal to \(10\%\) of the bribe amount. If the fine is not paid within 30 days, an additional penalty of \(20\%\) of the fine is imposed. The officer's declared legal income for the year is \(\text{₦}2\,000\,000\) and is subject to a \(5\%\) income tax. Assuming the officer pays the fine, the penalty (because of late payment), and the income tax on the legal income, calculate (a) the total monetary liability (fine + penalty + income tax) and (b) the net amount the officer retains after all payments. Give your answers in naira, rounded to the nearest naira.