c. Urdinary asset, if taxpayer is not engage in real estate business Capital asset, if the taxpayer is not engaged in real estate business 3. Anderson disposes a vacant lot for P3,000,000. The lot has an Assessor's fair value of P2,800,000, a zonal value of P3,200,000, and an appraisal value of P3,500,000. What is the capital gains tax? a. PO (C. P 192,000 b. P 180,000 d. P 210,000 4. Puerto Princesa Company sold its parking lot for P2,000,000. The lot has a zonal value of P2,500,000 and appraisal value of P1,800,000. The capital gains tax on the sale of the lot is (a) Po c. P 120,000 b. P108,000 d. P 150,000 5. Mr. Antonio disposed his principal residence for P2,000,000 and immediately acquired a new one for P1,800,000. The old residence cost Mr. Antonio P1,000,000 and had a fair market value of P2,500,000 on the date of sale. Compute the capital gains tax to be deposited in escrow. a. PO c. P120,000 b. P60,000 d. P150,000 6. What would be the tax basis of Mr. Antonio's new residence? a. P1,800,000 C. 900,000 b. P1,000,000 d. P 800,000 7. How much of the capital gains tax will be released to the taxpayer? a. P150,000 c. P120,000 b P135,000 d. P15,000 On August 15, 2020, Ms. Mones sold a 500-square meter residential house and lot for P3,000,000. The house was acquired in 2005 at P2,000,000. The Assessor's fair market values of the house and lot, respectively, were P1,500,000 and P1,000,000. The zonal value of the lot was P5,000 per square meter. What is the capital gains tax? a. P180,000 P150,000 b. P120,000 (d. P240,000 217