21-32. Christina, single, Filipino with 1 dependent child, received in taxable year 2020 the following professional fees as an independent consultant: \begin{tabular}{|c|c|c|} \hline Monthly Fees & Less 5\% CWT & Net Monthly Fees \\ \hline P240,000 & P12,000 & P228,000 \\ \hline \end{tabular} The monthly cost of her professional services amounted to P20,000, gross of the CWT. The office rental expenses related to her consultancy business amounted to: \begin{tabular}{|c|c|c|} \hline Monthly rental expense & Less 5\% CWT & Monthly rental expense paid \\ \hline P30,000 & P1,500 & P28,500 \\ \hline \end{tabular} She is not VAT-registered and instead pays 3\% OPT on her gross receipts under Section 116 of the Tax Code. Aside from her consultancy business, she is a faculty member of CPAR University from which she received the following employment income for the same year: \begin{tabular}{|c|c|c|c|} \hline Gross pay & Less CWT & $\begin{array}{c}\text { Less SSS premiums } \\ \text { and union dues }\end{array}$ & Net Pay \\ \hline P850,000 & P60,000 & P6,000 & P784,000 \\ \hline \end{tabular} The amount she received from CPAR University is inclusive of $13^{\text {th }}$ Month Pay and other benefits of P165,000. Her car fuel expenses amounted to P10,000 per month. She used the car for her consultancy business $40 \%$ of the time. She also wrote a book entitled "SINGLE LIFE IS HEAVEN" which became a bestseller in the Philippines. In 2020, she earned royalties from the book in the amount of $\mathrm{P} 2,500,000$, net of the $10 \%$ final tax. Using this amount, she opened a time deposit with BDO which earned interest income of P75,000, net of the $20 \%$ final tax. She has excess tax credits from the prior year of $\mathrm{P} 15,500$. Calculate her tax payable in the $1 \mathrm{st}, 2 \mathrm{nd}, 3 \mathrm{rd}$ quarter if she avails of the $8 \%$ income tax option. Calculate her tax payable in the annual ITR if she avails of the $8 \%$ income tax option.

\begin{tabular}{|c|c|c|c|} \hline \multicolumn{2}{|c|}{ Taxable income (PHP) } & \multirow{2}{*}{ Tax on column 1 (PHP) } & \multirow{2}{*}{ Tax on excess (\%) } \\ \hline Over & Not over & & \\ \hline 0 & 250,000 & - & 0 \\ \hline 250,000 & 400,000 & - & 20 \\ \hline 400,000 & 800,000 & 30,000 & 25 \\ \hline 800,000 & $2,000,000$ & 130,000 & 30 \\ \hline $2,000,000$ & $8,000,000$ & 490,000 & 32 \\ \hline $8,000,000$ & & $2,410,000$ & 35 \\ \hline \end{tabular}