A Company acquired a packaging machine from Taylor Corporation. Taylor completed the construction of the machine on January 1, 2029. In payment for the P3 million machine, A Company issued a 4-year interest-bearing note to be paid in four equal payments at the end of each year. Interest is 10% of the unpaid balance to be paid at the end of each year. Assume prevailing interest rate is 14%. What is carrying amount of the note of December 31, 2030? Round off PV factor to 4 decimal places. Round off final answer to the nearest peso.