A company issued a P3,000,000, 6-year bonds dated January 1, 2021, with a stated interest rate of 11%. Interest on the bonds is a payable annually every December 31 of each year. The company's bonds were sold to yield 14%. On May 1, 2022, the company retired P 1,000,000 face value bonds at 101. How much is the carrying value of the bonds on December 31, 2022? (Round off PV factor to 4 decimal places. Round off final answer to the nearest peso.)