FOR TAXPAPER

MRS. LUCENA MADRIGAL

NET INCOME P 750,000.00

LESS :
Entitled personal exemption P 100,000.00
Additional exemption for
Each qualified dependent
Two dependent child P 50,000.00

INCOME TAX RATE FOR

MRS. MADRIGAL P 600,000.00

THE TAX DUE IS:

P 125,000 +32% ( 600,000 - 500,000)

Or P 125,000 +32% ( 100,000 )

P 125,000 + 32,000

Or P 157,000 INCOME TAX DUE

OF MRS. MADRIGAL
QUESTION 2 OF 2

A) MAXIMO TOLENTINO
P 22,500 + 25% ( 180,00.00 - 140,000 )
P 22,500 + 25% ( 40,000)
P 22,500 + 10,000
P 32,500.00 TAX DUE

B) DEXTER LUNDAYAN
125,000 + 32% (P 1,500,000 - 500,000 )
125,000 + 32% ( 1,000,00 )
125,000 + 320,000
445,000.00 TAX DUE