KKB First Bank reported the following data for the second quarter of the current taxable year:...

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KKB First Bank reported the following data for the second quarter of the current taxable year: Interest income from loans extended to agricultural and Commercial borrowers: With a maturity period of 5 years With a maturity period of 2 years With a maturity period of 1 year Rent income on foreclosed properties and safe Deposit boxes Royalty income P 500,000 200,000 100,000 300,000 200,000 Required: Compute for the total percentage tax liability for the quarter. KKB First Bank reported the following data for the second quarter of the current taxable year: Interest income from loans extended to agricultural and Commercial borrowers: With a maturity period of 5 years With a maturity period of 2 years With a maturity period of 1 year Rent income on foreclosed properties and safe Deposit boxes Royalty income P 500,000 200,000 100,000 300,000 200,000 Required: Compute for the total percentage tax liability for the quarter.

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To compute the total percentage tax liability for the quarter we need to determine the taxable incom... View the full answer