Pedro, an official of Corporation X, asked for an "earlier retirement because he was migrating to Australia. He was paid P2,000,000.00 as separation pay in recognition of his valuable services to the corporation. Juan, another official of the same company, was separated for occupying a redundant position. He was given P500,000.00 as separation pay. Jose, another employee, was separated due to his faling eyesight. He was given P800,000.00 as separation pay. How much is excluded from gross income?

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A:

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A: The Answer :

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