peso bank deposit 1. Mr. Peter, a resident citizen, earns the following passive incomes gross of final taxes: Interest income from income from a dollar bank deposit domestic corporation $1. P2,000 Interest $500 Cash dividends from a P40,000 The peso-to-dollar exchange rate is P50: Requirement: Compute for the total final tax paid on the passive incomes earned, in pesos. Show with solution. 2. Ms Berna, a resident citizen and an inventor, receives a royalty of 10% for every sale of a product manufactured using Ms Berna's invented technology. Royalty payments are due from the manufacturer every quarter. The net sales for the 2nd quarter of the year were P320,000. How much net royalty income did Ms B receive? Show the solution.