XYW Corp., a Domestic Corporation, registered in 2010 made available the following financial information for taxable year 2021:

Balance Sheet:

Asset - Php 500,000

Liability - Php 100,000

Stockholders' Equity - Php 400,000

Income Statement:

Gross sales - Php 100,000,000

Cost of sales Php 60,000,000

Operating Expenses - Php 30,000,000

How much is the excess MCIT which can be carried forward in 2022? Consider CREATE Law

Choices:

Php 800,000

Php 2,100,000

Php 400,000

Php 0