For the taxable year $2024,$ Jenna, single, Filipino, received the following professional fees as an independent consultant.

Monthly Fees

Less: $10\%$ CWT

Net Monthly Fees Received

Her business expense amounted to the following:

Monthly expense

Less: $1\%$ CWT

Net Monthly Expense

She is not VAT$-$registered. Aside from her consultancy business, she is also a permanent employee of Wednesday Corporation from which she

received the following employment income for the same year:

Gross pay

Less: CWT

SSS Premiums and union dues

Net pay

The amount she received from Wednesday Corporation is inclusive of $13$th Month Pay and other benefits of P$65,000.$

During the year, she also received P$3,000$ interest income from her peso account deposit in Development Bank of the Philippines $($DBP$),$ and

P$250,000$ in royalties from her composition of the song entitled "The Burton."

Calculate her tax payable or refundable in the $3$rd Quarter Income Tax Return if she elected the $8\%$ income tax rate.

$120,000$

$(45,000)$

$160,000$

$(90,000)$ For the taxable year $2024,$ Jenna, single, Filipino, received the following professional fees as an independent consultant.

Monthly Fees

P$250,000$

Less: $10\%$ CWT

$25,000$

Net Monthly Fees Received

$225,000$

Her business expense amounted to the following:

Monthly expense

P$50,000$

Less: $1\%$ CWT

$500$

Net Monthly Expense

$49,500$

She is not VAT$-$registered. Aside from her consultancy business, she is also a permanent employee of Wednesday Corporation from which she received the following employment income for the same year:

Gross pay

P$900,000$

Less: CWT

$75,000$

SSS Premiums and union dues

$5,600$

Net pay

$819,400$

The amount she received from Wednesday Corporation is inclusive of $13$th Month Pay and other benefits of P$65,000.$

During the year, she also received P$3,000$ interest income from her peso account deposit in Development Bank of the Philippines $($DBP$),$ and P$250,000$ in royalties from her composition of the song entitled $$The Burton.$$

Calculate her tax payable or refundable in the $3$rd Quarter Income Tax Return if she elected the $8\%$ income tax rate.

$120,000$

$(45,000)$

$160,000$

$(90,000)$