2. On January 1, 2020, ABC Company acquired 10% of the outstanding ordinary shares of CBA Company for P4,000,000. The investment was appropriately accounted for under cost method. On January 1, 2021, ABC gained the ability to exercise significant influence over financial and operating control of significant influence over financial and operating control of CBA by acquiring an additional 20% of CBA's outstanding ordinary shares for P10,000,000. The fair value CBA's net assets equaled carrying amount. The fair value of the 10% interest on January 1, 2021 was P6,000,000. For the years ended December 31, 2020 and 2021, the investee reported the following: 2020 Dividend paid 2,000,000 2021 3,000,000 6,500,000 Net income 6,000,000 What is the carrying amount of the investment in associate on December 31, 2021?