Department of Finance grants its employees 20 days' sick leave for the whole year. Such sick leave may be converted into cash before the end of the year. Nicanor, one of its rank- and-file employees, who is earning a rate of P 600 per day, monetized his unused sick leave of P 6,600 at the end of the year. The whole amount of P 6,600 monetized unused vacation is: S1: Part of Nicanor's taxable compensation. S2: Partly treated taxable compensation and partly exempt from income tax. O a. Only $1 is true b. Only S2 is true c. Both are true d. Both are false