Bravery Pte Ltd, was incorporated on 16 January 2019 as a manufacturing company with an accounting year end of 31 December. It is wholly owned by XYZ Ltd. It has a chargeable income before exempt income of $1,000,000 for the year ended 31 December 2021. Calculate its net tax payable for Year of Assessment 2022. 1) $120,575 2) $148,750 3) $144,075 4) $152,575