30. Alberto is insured in a P 1,000,000 life insurance policy with annual premium payments of P20,000 for 10 years. If Alberto outlives the policy after the 10th year, he will be paid P500,000 maturity value. Alberto died in the 8th year of coverage and his heirs collected the P1,000,000 proceeds. How much will be exempt from regular income tax * a. P840,000 O b. P 1,000,000 O c. P 500,000 d. 0

30. Alberto is insured in a P 1,000,000 life insurance policy with annual premium payments of P20,000 for 10 years. If Alberto outlives the policy after the 10th year, he will be paid P500,000 maturity value. Alberto died in the 8th year of coverage and his heirs collected the P1,000,000 proceeds. How much will be exempt from regular income tax * a. P840,000 O b. P 1,000,000 O c. P 500,000 d. 0

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 14E

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