Rosa Private School of Values or RSPV is a non$-$profit private educational institution with an issued permit to operate from the Commission on Higher Education $($CHED$).$ It is maintained and administered by MCGJ Inc., a private domestic corporation registered under the SEC.

RPSV uses a fiscal year accounting ending July $31$st of each year. On July $31,2021,$ it recorded total gross receipts amounting to P$18$M$,$ of which P$10$M came from education$-$related activities, while P$8$M from other unrelated business activities. Also, RSPV Co$.$ recorded cost of service and operating expenses from related activities amounting to P$2$M and P$1$M$,$ respectively, and from unrelated business activities amounting to P$3$M and P$2$M$,$ respectively. Compute the Income Tax Due of RSPV for the fiscal year ending July $31,2021.$

a$.$ P$1,000,000$

b$.$ P$100,000$

c$.$ P$2,500,000$

d$.$ Exempt