Question: Statement 1: In computing the documentary stamp tax on deed of sale, the tax is based on consideration at a rate of 1.5% pursuant to

Statement 1: In computing the documentary stamp tax on deed of sale, the tax is based on consideration at a rate of 1.5% pursuant to TRAIN law. Statement 2: In computing the documentary stamp tax on original issue of share of stock, the tax is based on par value at a rate of 1% pursuant to TRAIN law. The first statement is wrong and the second statement is correct. The first statement is correct and the second statement is wrong. Both statements are correct. Both statements are wrong

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