Do not answer please if not sure.

Jarah, a financial comptroller of JAC Company, earned annual compensation in 2023 of 2,500,000. Aside from employment income, he owns a convenience store, with gross sales of 2,400,000. His cost of sales and operating expenses are 1,000,000 and 600,000 respectively, and with non operating income of 100,000.

Determine whether the taxpayer can opt to avail of the 8% preferential income tax. If yes, write yes and your reasons why and compute the total taxes due. If no, write no and your reasonss why and compute the total taxes due.