An instrument with maturity period of 15 years was held by Mr. Taylor (a non-resident citizen) for 3 years and transferred to Mr. Edward (a resident alien). Mr. Edward held It for 2 years before subsequently transferring it to Mr. Cullen (a non-resident alien not engaged in business), who held it until the day of maturity. How much is the final withholding tax due? Mr. Taylor 12% 12 % 20% 12% Mr Edward 20% 20% 20% 20% Mr. Cullen Exempt 20% 20% 25%