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Compute for the final tax due

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PHILIPPINE TAXATION (TRAIN LAW)

On January 1, 2014, PEDRO invested P1,000,000 to JUAN Bank's 10-year, tax-free time deposit. The long-term deposit pays 10% annual interest every January 1. In need of cash, PEDRO pre-terminated her investment on July 1, 2017.

Problem 1: Compute for the final tax due?

A.) 42,000

B.) 0

C.) 12,000

D.) 17,500

E.) 6,000

 

Reference no: EM132787746

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