A corporation provides the following: 2020 Net income before dealings in properties Gain on sale of company equipment held for 5 years Loss on sale of company vehicle held for 9 months Gain on sale of idle land held on investment Loss on sale of a machine held as capital asset 1,700,000 300,000 (200,000) 900,000 (170,000) Compute the net taxable income. 2,550,000 2,530,000 1,800,000 1,650,000 Agrix Company grants its managerial employees the privilege to select a car of their choice with value not exceeding P1M a unit or be given PIM cash benefit to acquire their own cars. It also grants supervisory employees car benefits if they actually purchase their cars. The following data in relation to the benefits are provided: Car benefits given to a manager, net of withholding tax on compensation Value of cars purchased for 2 managers Cash payments to various car suppliers for supervisory employees P900,000 2,000,000 1,600,000 One manager who did not meet company requirements was allowed to purchase his own car for a price not exceeding P1M, 40% at the expense of the employer. The manager maximized his benefit. Compute the total monetary value of fringe benefits. 4,900,000 4,600,000 4,000,000 2,400,000