Rodrigo Marcos, resident citizen, with 4 qualified dependent children, have the following data for taxable year 2021: . . . . . . Compensation Income, net of the following deductions: 500,000 SSS Contributions 6,000 PHIC Contributions 1,200 Pag-ibig Contributions 1,200 Union dues 3,000 Personal loans 50,000 Withholding tax 25,000 Professional Income (net of 10% withholding tax) 450,000 Professional Expenses 120,000 Dividend from a domestic corporation 20,000 Dividend from a foreign corporation 15,000 Royalty on book written, net of taxes 20,000 Royalty on book written and published in USA 100,000 Interest on bank deposit under EFCDS 5,000 Interest on bank deposit maintained with Bank of America, NY 10,000 (peso equivalent) Lotto winnings 500,000 Lotto winnings, US 200,000 Business Income: Gross Sales 1,200,00 Cost of Sales 650,000 Operating Expenses 200,000 Tax paid for 3 quarters 60,000 He also sold the following properties: Sale of lot with a warehouse (was used in their trading business) 800,000 Acquired two years ago at a cost of 500,000 Sale of a personal computer bought 6 months ago @P 50,000 20,000 Sale of personal car, acquired 3 years ago @ P50,000 100,000 Land in Canada purchased two years ago at a cost of P1,200,000 1,800,000 Land in Canada purchased two years ago at a cost of P1,200,000 1,800,000 1,500 shares of San Miguel Corporation (cost-P1,100, PV-1,000, SP-1,500) He incurred the following expenses: Commission of the broker upon acquisition-10,000 Commission of a friend who helped him sell 5,000 He also made the following contributions: To Brgy. La Torre, P10,000, for their Christmas party To St. Dominic Cathedral, P50,000 He borrowed P500,000 from PNB at the start of the year, @12% per annum, where he was able to pay half on June 30 while the other half is still outstanding as of the end of the year He received a check amounting to P50,000 as interest income on his deposit with BDO Required: 1. Net Taxable income if filing under: a. Itemized deduction b. Optional Standard Deduction 2. Final taxes (show schedule) 3. Capital Gains Tax, if any Rodrigo Marcos, resident citizen, with 4 qualified dependent children, have the following data for taxable year 2021: . . . . . . Compensation Income, net of the following deductions: 500,000 SSS Contributions 6,000 PHIC Contributions 1,200 Pag-ibig Contributions 1,200 Union dues 3,000 Personal loans 50,000 Withholding tax 25,000 Professional Income (net of 10% withholding tax) 450,000 Professional Expenses 120,000 Dividend from a domestic corporation 20,000 Dividend from a foreign corporation 15,000 Royalty on book written, net of taxes 20,000 Royalty on book written and published in USA 100,000 Interest on bank deposit under EFCDS 5,000 Interest on bank deposit maintained with Bank of America, NY 10,000 (peso equivalent) Lotto winnings 500,000 Lotto winnings, US 200,000 Business Income: Gross Sales 1,200,00 Cost of Sales 650,000 Operating Expenses 200,000 Tax paid for 3 quarters 60,000 He also sold the following properties: Sale of lot with a warehouse (was used in their trading business) 800,000 Acquired two years ago at a cost of 500,000 Sale of a personal computer bought 6 months ago @P 50,000 20,000 Sale of personal car, acquired 3 years ago @ P50,000 100,000 Land in Canada purchased two years ago at a cost of P1,200,000 1,800,000 Land in Canada purchased two years ago at a cost of P1,200,000 1,800,000 1,500 shares of San Miguel Corporation (cost-P1,100, PV-1,000, SP-1,500) He incurred the following expenses: Commission of the broker upon acquisition-10,000 Commission of a friend who helped him sell 5,000 He also made the following contributions: To Brgy. La Torre, P10,000, for their Christmas party To St. Dominic Cathedral, P50,000 He borrowed P500,000 from PNB at the start of the year, @12% per annum, where he was able to pay half on June 30 while the other half is still outstanding as of the end of the year He received a check amounting to P50,000 as interest income on his deposit with BDO Required: 1. Net Taxable income if filing under: a. Itemized deduction b. Optional Standard Deduction 2. Final taxes (show schedule) 3. Capital Gains Tax, if any