As of December 31, 2018, its first year of operations, Karen Company had taxable temporary differences totaling Php 3,000,000. Of this total, Php 1,000,000 relates to current items. Karen Company also had deductible temporary differences totaling Php 1,500,000, Php 250,000 of which relates to current items. Pretax financial income for the year was Php 20,000,000. Income tax rate is 30% and how much should Karen Company report as income tax payable on December 31, 2018?