Optional deduction is computed as a.net income less net expenses b.gross sales  multiply to 40%

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 3P
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1.) Optional deduction is computed as

a.net income less net expenses
b.gross sales  multiply to 40%
 
2.) Selling price of stocks traded on the local stock exchange is P50,000.00 and the Cost is P20,000.00. How much should be the capital gains tax?
a. P300.00
b. P180.00
c. P4,500.00
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