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With solution please. thank you. 6. A private employee retired at 60 in the middle of the year and was paid the following remunerations: Retirement

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With solution please. thank you.

6. A private employee retired at 60 in the middle of the year and was paid the following remunerations: Retirement benefits P2,000,000 Terminal leave pay (150 accumulated days) 120,000 Compensation, net of P16,000 SSS, PHIC and HDMF premium contributions 128,000 Mid-year bonus 8,000 Pro-rated 13th month pay 12,000 Compute the gross taxable compensation income. a. P260,000 c. P178,000 b. P238,000 d. P230,000

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