2. Jessie Company purchased an investment property on January 1, 2012 at a Cost Of P2,4 a useful life of 40 years and on December 31, 2014 had a fair value of P3,000,000. C property was sold for net proceeds of P2,900,000. The entity used the cost model property. What is the gain or loss to be recognized for 2014 regardingg the disposal of t a. 865,000 gain c. 100,000 loss b. 810,000 gain d. 700,000 gain