1. **State the problem:** Calculate the income tax due for a professional with an annual gross income of P2,800,000, allowable deductions of P2,500,000, and a withholding tax of P120,000. The taxpayer availed the 8% income tax option. 2. **Formula and rules:** The 8% income tax option means the tax is computed as 8% of the gross income without itemizing deductions. 3. **Calculate the income tax due:** Since the taxpayer chose the 8% option, the tax is: $$\text{Income Tax} = 0.08 \times \text{Gross Income}$$ 4. **Substitute the values:** $$\text{Income Tax} = 0.08 \times 2,800,000 = 224,000$$ 5. **Adjust for withholding tax:** The withholding tax of P120,000 is credited against the income tax due: $$\text{Tax Due} = 224,000 - 120,000 = 104,000$$ 6. **Final answer:** The income tax due is **104,000**. This matches one of the given choices.