Use income tax rates under CREATE in full for the taxable year. 1. What is the taxable income of a domestic corporation assuming that it had the following income and expenses: Derived Within Derived Without 0 Gross income, P8,000,000 - Gross income, P4,000,000 0 Business Expenses, P3,000,000 0 Business Expenses, P3,000,000 0 Sale of Machinery (cost P2 million), P3,000,000 2. What is the final tax of a resident foreign corporation which has the following income: 0 Interest income derived from depositary under EFCDS, P100,000 0 Capital gain from the sale of shares of stock not traded in the local stock exchange, P200,000 o Dividend from a domestic corporation, P300,000 3. What is the total exclusions from gross income of a resident citizen which has the following: 0 Salary, gross withholding tax, P480,000 0 Allowance, P20,000 o 13th-month pay, P40,000 0 Christmas bonus, P40,000 o Reimbursement of transportation expenses, P5,000 0 Payroll deductions 0 SSS Contributions, P4,000 o Philhealth contributions, P3,000 - PagIbig contributions, P2,400 0 Loan Payment, P20,000 4. During the taxable year, a resident foreign corporation has gross sales of P6,000,000, costs of goods sold of P2,000,000, and operating expenses of P1,000,000 and P80,000,000 total assets. What is its income tax payable? 5. How much is the amount of taxes deductible from gross income if the following tax expenses related to business were paid by Loui Trading in 2021: 0 Business taxes, other than VAT, P20,000 0 Documentary stamp taxes, P1,000 0 Automobile registration fees, P3,000 0 Import duty taxes, P50,000 o Postage stamp taxes, P500 0 Stock transaction tax, P2,500 0 Income tax, P600,000 o Valueadded tax, P240,000 - Donor's tax, P8,000