Juan is a resident citizen, earning purely business income for the taxable year:

Gross sales	P2,800,000
Cost of sales	1,200,000
Operating expenses	650,000

Determine the income tax due assuming Juan opted to be taxed using 8% preferential income tax.

Group of answer choices

Not applicable

P124,000

P76,000

P204,000

Using the information in the previous question, how much is the business tax due under Section 116?

Group of answer choices

P84,000

P336,000

0

P28,500