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PLEASE HELP Data for 2020 taxable year of ML partnership (Domestic corporation) including partner's own income (Resident citizens) are as follows: Martis Layla ML (40%
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Data for 2020 taxable year of ML partnership (Domestic corporation) including partner's own income (Resident citizens) are as follows: Martis Layla ML (40% (60% Description partnership P/L P/L ratio) ratio) Compensation 300,000 270,000 income 800,000 450,000 Business income Allowable deductions 200,000 100,000 Interest income from deposit in a bank (Philippines) 100,000 10,000 Assume the partnership is a General professional partnership, compute for the total tax due (basic tax and final tax) by Martis. 100,000 10,000 deposit in a bank (Philippines) Assume the partnership is a General professional partnership, compute for the total tax due (basic tax and final tax) by Martis. O 159.000 O 161,000 O 157,000 O 155,000 Step by Step Solution
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