34 2 pts Augustinian University (AU) is a non-profit private educational institution with an issued permit to operate from the Commission on Higher Education (CHED). It is maintained and administered by MCGJ Inc., a private domestic corporation registered under the Securities and Exchange Commission. AU uses a fiscal year accounting ending July 31st of each year. On July 31, 2021, it recorded total gross receipts amounting to P18,000,000.00, of which P8,000,000.00 came from education- related activities, while P9,500,000.00 (net of 5% creditable withholding tax) from other unrelated business activities (rent income from commercial spaces). Also, AU recorded cost of service and operating expenses from related activities amounting to P3,000,000.00 and P1,000,000.00, respectively, and from unrelated business activities amounting to P2,000,000.00 and P2,000,000.00, respectively. How much is the income tax payable? O b. 1,500,000 a. 100,000 O c. 2,500,000 d. 2,000,000