11. DL, Inc. maintains a defined contribution plan. It contributed P500,000 and P700,000 in 2019 and 2020. 20% of these amounts pertains to employee share pre-deducted from their bonuses. Required: Compute the deductible pension expense in 2020. 12. Mr. Paco reported the following income and expenses in 2020: Gross compensation income P 600,000 Gross professional fees 800,000 Dividend income 10,000 Interest income from deposit 15,000 Cash donation to the government for public purpose 60,000 Fair value of property donation to accredited non- profit institutions (Property book value is P80,000) 120,000 Interest on borrowings 24.000 Personal and family expenses 200,000 Entertainment and recreation expense 8,000 Other operating expenses of practice 120,000 Mandatory payroll deductions 20,000 Exempt benefits 40,000 Required: Compute the following a. Deductible contribution expense b. Taxable compensation income c. Net income d. Taxable income