ABC Company reported in its 2019 current tax expense at P 5,530,000. The following changes in ABC asset's and liabilities are as follows:

Deferred tax asset

12/31/2019-200,000

12/31/2018-500,000

Deferred tax liability

12/31/2019-420,000

12/31/2018-600,000

Income tax payable

12/31/2019-850,000

12/31/2018-200,000

The deferred tax liability was caused by accelerated depreciation and the deferred tax asset is for rentals received in advance.

How much is ABC's total income tax expense?

Instructions:

1. if decimal - maximum of 2 decimal places only / round off to 2 decimal places
2. send your answer 5:15-6:10 only