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Jackson Company has an incentive compensation plan under which the president is to receive a bonus equal to 10% of income in excess ot PL,000,000 before deducting income but after deducting the bonus. The income before income tax and the bonus is P3,200,000.
Question 1: What is the amount of the bonus?
a. 220,000
b. 200,000
c. 320,000
d. 440,000
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