5. Zephyr Company provided a grant by a foreign government for the purpose of acquiring land The grant is a zero-interest loan for 5 years evidenced by a promissory note. The loan was gre 2014 for P8, 000, 000. The market rate of interest is 6%. The present value of 1 for five peri What is the carrying amount of the note payable on December 31, 2015? a. P8,000,000 C. P6,717,330 b. P6,337,104 d. P6,787,040