Determine what is income tax for the year

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Reference no: EM132618726

In its seventh year of operations, a domestic corporation,a service provider, had:

Gross Revenue P 5M

costs and expenses

direct cost of the services P 2M

other operating expenses 500,000

disregard considerations of quarterly income tax payments

Problem 1: Income tax for the year?

Reference no: EM132618726

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