1. Peter Senen, single has the following income and expenses for the year 2020. Professional income, net of P60,000 withholding tax P540,000 Rental income (net) 47,500 Rewards as BIR informer 30,000 Wagering gains 50,000 Kickbacks received from suppliers of clients 40,000 Interest income on time deposit (net) 32,000 Dividend income from domestic corporations 75,000 Professional expenses 325,000 Household expenses 24,000 Premium payment on health insurance 4,000 Facilitation fees paid to government agencies 15,000 How much is the taxable income subject to basic tax for the year 2020