A and B formed a Partnership on January 1, 2020. A contributed capital of P50,000, while B contributed capital of P30,000. The Partnership agreement provides for the following:

a. Capital accounts are to be credited annually with interest at 5% of the beginning capital.

b. Partner B is to be paid salary of P2,000 a month.

c. Partner B is to receive a bonus of 10% based on the net income

The Partnership's income statement for the year ended is as follows:

Revenues	P101,000
Expenses (including salary, interest, and bonus)	30,000
Net income	71,000

What is partner's B 2020 bonus?