Angeles School of Business is a private educational institution recognized by the government. The following are the data for the fiscal year ending June 30, 2019:

Tuition feeP12,800,000

Miscellaneous fees 1,800,000

Interest income on bank deposits12,300

Rent income of school facilities to outsiders350,000

Salaries and bonuses - all personnel7,500,000

Other operating expenses3,500,000

Repayment of loan400,000

Quarterly income tax payments48,000

A building was constructed on April 2, 2019 at a cost of P 2,000,000 with a useful life of 50 years.

1. Assuming that the cost of construction of the building is treated as an expense, the income tax payable of Angeles is:
2. The income tax payable if the cost of construction will be capitalized is: