A company produces electronic circuit boards. Each circuit board has a raw material input of P60 and labour input that costs P20. The company intends to produce 1,000 circuit boards per week. The company must also pay the rent of the factory totaling P20,000 per annum, business rates of P4,000 per annum and the production director’s salary of P24,000 per annum. What is the fixed cost of the business? 

A. P20,000 

B. P24,000 

C. P48,000 

D. P80,000