Mr. Peter Senen, a Filipino overseas contract worker and his spouse, a resident of the Philippines, have a joint US Dollar account at PNB- Quezon City. Their gross interest earnings in 2020 from the bank deposit amounted to US$8,000. Which of the following statement is correct?

b. The interest income shall be taxable in full because Mr. Peter Senen and his spouse are both Filipino citizens

c. Fifty percent (50%) of the interest income shall be treated as exempt while the other fifty (50%) shall be subject to the graduated rates.

a. The interest income shall be treated as tax exempt because Mr. Peter Senen is a non-resident citizen

d. Fifty percent (50%) of the interest income shall be treated as exempt while the other fifty (50%) shall be subject to a final withholding tax of 15%.