20. On January 1, 200A, ABC Company sells to XYZ, a used transportation equipment, which was acquired at P800,000, 5 years ago. The carrying value of the equipment is P400,000. There is no established selling price for the equipment. Upon executing the sale, ABC received P100,000 down payment and an 11% 3 year promissory note amounting to P450,000, when the interest rate prevailing in the market is 12%. At the end of December 200A, the carrying value of the note receivable to be presented under the current portion is (Round off the resulting present value of the note to the nearest hundreds.)