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Agila Land Inc., a real estate developer, sold a commercial lot to Wakka for P10,500,000, VAT-exclusive. At the time of sale, the zonal value and

Agila Land Inc., a real estate developer, sold a commercial lot to Wakka for P10,500,000, VAT-exclusive. At the time of sale, the zonal value and fair market value according to the assessor were P11,500,000 and P13,500,000, respectively.

How much is the total amount to be paid by Wakka to Agila Land, Inc.?

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