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5. Which of the following franchises is not subject to the 1% Percentage Tax on Franchise? a. Franchise of gas and water utilities b, Radio

5. Which of the following franchises is not subject to the 1% Percentage Tax on Franchise? a. Franchise of gas and water utilities b, Radio and Television broadcasting companies with annual gross sales of more than P1 0,000,000 c. Both (a) and (b) d. Neither (a) nor (b)

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