A construction company completed the construction of a shopping mall at the end of 2016 for a total cost of P100 million. The mall has an estimated economic life of 25 years. The mall was constructed for the purpose of earning rentals by letting out space in the shopping mall to tenants. The company opted to use the fair value model to measure the shopping mall. An independent valuation expert was used by the company to fair value the shopping mall on an annual basis. According to the fair valuation expert, the fair values of the shopping mall at the end of 2017 and 2018 were P120 million and P115 million, respectively.

How much should be recognized in profit or (loss) in 2018 as a result of the fair value changes?

a. 5,000,000

b. 0

c. 15,000,000

d. 23,000,000