Reference: Domestic Corp. (TAX RATE) Non-proprietary educational institutions; and Non-profit Hospitals TRAIN Law CREATE Act (July 1, 2020-June 30, 2023) July 1, 2020 to June 30, 2023 Beginning July 1, 2023 1% 10%/ 10% IF RELATED ACT > UNRELATED ACT = Use above tax rate IF UNRELATED ACT> RELATED ACT = Taxable Income is subject to Regular or normal Corp. income tax SureMed Medical Center is a non-profit hospital. In 2020, it reported the following gross income and expenses: ACTIVITIES TOTAL RELATED UNRELATED Gross Income P 7,500,000 Directly traceable expenses 4,375,000 8,560,000 P 16,060,000 3,750,000 8,125,000 Common expenses for both activities 1,450,000 Other income received during the year: Interest on time deposit with BDO Quezon City Dividend income from PLDT Company Compute for the taxable income and the tax due assuming a. the given facts b. SureMed Medical Center is a private hospital c. Suremed Medical center is a government hospital P 14,300 1,350