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Mr. Johnson had a gross compensation income (net of exclusions) of P200,000 and gross income from trading ofP1,000,000 (from gross sales of P2,000,000) and related

Mr. Johnson had a gross compensation income (net of exclusions) of P200,000 and gross income from trading ofP1,000,000 (from gross sales of P2,000,000) and related business expenses of P400,000. Compute for the taxable income.

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