Danilo is 67 years old, retired. During 2021 he received his lump sum retirement pension...

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Accounting

Danilo is 67 years old, retired. During 2021 he received his lump sum retirement pension from his former employer of 8 years in the amount of P4,000,000. His net income from business is P705,000 and received P10,000 social security benefits. 



What is Danilo's taxable income?

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