29 QUESUO\" On January 1, 2019, Torque Co. began constructing a building on a piece of land that it had previously acquired. The building is to be used by the :12?\" company as its main office. The buildingwas completed on October 1, 2020. The following payments were made to the subcontractor: Marked Gm Of Date of Payment Amount 1.00 January 1, 2019 3,000,000 17 Flag quesmn May 1, 2019 1,250,000 September 30, 2019 1,500,000 Mar 30, 2020 1,200,000 June 30, 2020 2,400,000 Date Nominal rate Principal Terms Maturity Jan 1, 2019 10% 2,000,000 Simple interest payable annually 4 years April 1, 2019 12% 4,000,000 Simple interest payable annually 5 years Dec 31, 2018 12% 6,000,000 Simple interest payable annually 5 years The 2,000,000 note on January 1, 2019 was specifically borrowed to nance the construction project above. Interest income earned on its temporary investment is P20,000. All of the above liabilities are outstanding as of 2020. The amount of interest expense for 2019 is O 5. 1,280,000 0 b. None of the choices 0 C. 920,585 0 d. 860,780