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Find how much final tax should be withheld from the prize

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Reference no: EM132717278

Problem 1: Ms. Matti won a gold medal and P50, 000 cash prize for chess competition in the Palarong Pambansa. How much final tax should be withheld from the prize?

a. P 20, 000

b. P 10, 000

c. P 5, 000

d. P 0

Reference no: EM132717278

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