A company has an after-tax profit ofP780,000 with the following transactions:

a) Unearned income ofP600,000 and P400,000 as of April 1 and December 31, respectively

b) Prepaid expenseofP800,000 andP500,000 asJune 30, and December 31, respectively.

c) Interest from bank deposit amounting to P100,000

d) The company has no estimated income tax payment made during the year

e) Income tax rate is 35%

Question:How much is the deferred tax asset ?