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How much is the total tax on all winnings of mang kanor

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Question - Mang Kanor raises some horses which he enters to fights during scheduled events. To further generate revenues for said horses, he places bets on his horses on the wager system. Each combination ticket costs twice as much as that of the five-hundred-peso ticket on straight bets. Each winning ticket pays out twenty times that of its cost. During the week, 6.25 percent of the 16 combination bets placed won and ten out of the fifteen straight bets lost. Mang Kanor also received P50,000 from the winnings on his horses. How much is the total tax on all winnings of Mang Kanor?

Reference no: EM133185781

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