Andrew's business, after a harrowing first year of operations which saw him sustain a loss of P1,000,000, finally was able to generate a modest net taxable income of P250,000. In the next year, he was able to recover a net taxable income equal to his first year loss.

How much should tax should Andrew pay for his 3rd year of operations? 

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To determine the tax liability of Andrews business for its third year of opera... View the full answer