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Resident from the Philippines. PROBLEM NO. 2 Mr. Muligwa received the following pays: 1....

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Accounting

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Resident from the Philippines.
PROBLEM NO. 2 Mr. Muligwa received the following pays: 1. Retirement pay of 1,200,000 after working for 25 years at the age of 45 years old. 2. Retirement pay of 1,800,000 after working for 10 years at the age of 55 years old. 3. Retirement pay of 2,500,000 after working for 15 years at the age of 70 years old. Requirements: a. How much of the retirement pay of Mr. Muligwa is non-taxable? b. How much of the retirement pay received by Mr. Muligwa is taxable

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