TIMED TASK

SVT Corporation is a domestic corporation engaged in the distribution of diamonds. Their best selling piece is a seventeen-carat necklace ensemble. Due to the immense popularity of SVT Corporation's products, their taxable income for the calendar year 2020 amounted to P15,000,000, P4,500,000 of which was earned domestically, and P10,500,000 from sources abroad. A perusal of SVT Corporation's Statement of Financial Position reveal that it had assets amounting to P120,000,000, P40,000,000 of which are current assets, P50,000,000 are equipment and machineries, while the remaining P30,000,000 pertains to the value of the land where the business is situated. How much is SVT Corporation's corporate income tax for the year 2020? 3,000,000 3,750,000 4,125,000 4,500,000