On December 31, 2020, Landmark Company reported the following: Income before tax for accounting purposes, P11,850,000; Rent expense for financial accounting purposes is P1,500,000 while rent expense...

On December 31, 2020, Landmark Company reported the following:
Income before tax for accounting purposes, P11,850,000; Rent expense for financial accounting purposes is P1,500,000 while rent expense for tax purposes is P1,050,000; Tax depreciation is P3,000,000 while accounting depreciation is P1,500,000; Loss on a case incurred but not yet paid so tax-deductible in the future is P600,000. The tax rate is 30%.

REQUIRED:

1. What is the amount of taxable temporary difference?

2. What is the amount of total deductible temporary difference?

3. Compute for the current tax expense.