2. Ethel is a self-employed professional. She provided the following information for 2020 taxable year: Gross sales P1,650,000 Cost of sales 500,000 Business Expenses 425,000 Rental income (net) 308,750 Philippine Charity sweepstakes winnings 500,000 Royalty income-books 120,000 Other royalty income-Philippines 60,000 Dividend income-domestic corporations 40,000 Interest Income-PNB-Manila 100,000 Interest income received from a foreign currency Deposit-Philippines 50,000 Creditable withholding tax from business income 65,000 Quarterly tax payments 82,500 How much is the income tax payable of Ethel if she opted to be taxed at 8% preferential income tax rate