Unity Bank posted the following data for the final quarter of 2001 from their lending activities:Remaining maturities of instruments Interest earnedShort term, not over 2 years Php 62, 500Medium term, not over 4 years 37, 500Long term, over 4 years but less than 7 years 15, 000Long term, more than 7 years 12, 500 What is the percentage tax due?Select one:a.Php 4, 400 b.Php 4, 525c.Php 5, 750d.Php 6, 375
Question
Unity Bank posted the following data for the final quarter of 2001 from their lending activities:Remaining maturities of instruments Interest earnedShort term, not over 2 years Php 62, 500Medium term, not over 4 years 37, 500Long term, over 4 years but less than 7 years 15, 000Long term, more than 7 years 12, 500 What is the percentage tax due?Select one:a.Php 4, 400 b.Php 4, 525c.Php 5, 750d.Php 6, 375
Solution
To answer this question, we first need to know the tax rate. The percentage tax due cannot be calculated without this information. The question provides the interest earned from different lending activities but does not provide a tax rate. Please provide the tax rate so we can calculate the percentage tax due.
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