Kindly help me answer the ff questions with step by step solutions. Thank you. In pfd or word file format is much appreciated.

INCOME TAX ON INDIVIDUALS

Artemio leased a 216 square meter of idle land to Leizzie College of Business (LCB), a proprietary educational institution, for a period of twenty (20) years effective January 1, 2020. The lease contract provides that Leizzie College of Business (LCB)will erect a building thereon to be used as classroom, which it did on the lot of Artemio. The agreement provides also that the building shall become the property of the lessor at the end of the lease. The building was completed on June 30 2022 at a cost of P1,800,000. The estimated life of the leasehold improvement is thirty (30) years and will be occupied in the immediately succeeding quarter following its construction If was further agreed that Leizzie College of Business (LCB) will pay the real estate tax on the land assessed at P3,000 annually. On January 2, 2020, LCB paid Artemio P120,000 consisting of rental covering the two (2) year period (24 months) from 2020 to 2021. 42. The rent income to be reported by Artemio in 2020 - A. P 60,000 B. 123,000 C. P120,000 D. 63,000 43. The income to be reported by Artemio in 2022 under outright method is A. P 1,860,000 B. 1,862,250 C. 1,860,750 D. 1,863,000 44. The income to be reported by Artemio in 2022 under spread-out method is A. P84,429 B. 21,429 C. 81,249 D. 83,679 45. Which of the following statements is correct? A. Effective January 1, 2023, the land shall be exempt from real estate tax. B. Effective June 30, 2022, the land shall be exempt from real estate tax. C. Effective January 1, 2022, the land and the building shall be exempt from real estate tax. D. Effective October 1, 2022 the land and the building shall be exempt from real estate tax. 46. The deductible expense of Lezzie Business College in 2023 - A. P 165,857 B. 162,857 C. 114,429 D. 84,429 47. The income to be reported by Artemio in 2023 under spread-out method is A. P 105,857 B. 102,857 C. 114,249 D. 84,429 48. Suppose the lease contract was terminated on December 31, 2026 due to the fault of the lessee, the income to be reported by Artemio under spread out method on 2026 is - A. P1,443,000 B. 1,397,143 C. 1,440,000 D. 1,482,857 49. On January 1, 2017, Atutubo leased a lot to Bengbeng with a building erected thereon for a period of 10 years. The lease contract provides that Bengbeng will pay the following: a. Monthly rental of P10,000. b. Fire insurance premium of P15,000 per year. c. Real property tax of P 5,000 a year. The lessee will construct a concrete fence surrounding the lot at a cost of P1,200,000 with a useful life of 20 years which shall belong to the lessor at the expiration of the lease. The fencing was finished on June 30, 2019. In 2019, Atutubo shall report as income from lease (spread-out method) an amount of - A. P75,000 B. 740,000 C. 140,000 D. 190,000 50. In the number above, the lessee can claim a deductible expense in 2019 of - A. P215,000 B. 220,000 C. 230,000 D. 190,000