Arrange the steps in computing taxable income for Mr. Ramakrishna’s composite business involving agriculture and manufacturing in the correct sequence
1. Apply the business income proportion for coffee.
2. Apply the business income proportion for rubber.
3. Compute the taxable income from nursery.
4. Apply the business income proportion for tea.
1
3, 1, 2, 4
2
1, 2, 4, 3
3
2, 4, 1, 3
4
4, 2, 1, 3