CASELETTE 6 - Allowable Deductions. (10 Pts) A fire occurred in the City of Pasay and coincided with the looting of stock of plywood of a lumber company. The lumber company, however, failed to record such loss in its books of accounts. M. Was the loss deductible? Briefly explain. CASELETTE 7 - Allowable Deductions. (10 Pts) Mr. Garcia, a contractor who won the bid for the construction of a public highway, claims as expense, facilitation fees which according to him is a standard operating procedure in transactions with the government. N. Can Mr. Garcia deduct the amount paid as facilitation fee? Briefly explain. Ms. Gabriela, a businesswoman and a resident citizen of the Philippines has the following sources of income in 2021: Source of Income Philippines Japan Singapore Taxable Income P 4,800,000 1,920,000 Foreign Income Tax Paid P 450,000 300,000 960,000 O. How much is the Philippine Income Tax Still Due and Payable?