The taxpayer had the following data at the end of its 10th year of operations:

Assuming that the taxpayer is a domestic corporation claiming itemized deductions, how much is the income tax due for the year?

choices

P741,400
 

P1,230.000

P1,537,500

P1,525,000

Total Assets, excluding land, P60 million INCOME Sales Rentals Interest from Peso bank deposit Interest from FC bank deposit Dividends from domestic corporation COSTS & EXPENSES Cost of goods sold Operating expenses Philippines P15,000,000 P5,000,000 600,000 40,000 30,000 South Korea 100,000 0 0 50,000 6,000,000 2,000,000 4,000,000 2,500,000