A wholly-owned subsidiary of Mindanao, Inc. in Hongkong has certain expense accounts for the year ended December 31, 2017 stated in Hongkong dollars as follows: Depreciation (related assets were Hongkong Dollars acquired on January 1, 2014) 12,000 8,000 Bad debts 20,000 Rent The exchange rates at various dates were as follows: Peso Equivalent of 1 Hongkong dollar December 31, 2017 P5.90 5.80 Average for year ended December 31, 2017 4.80 January 1, 2014 What total peso amount should be included in Mindanao's 2017 consolidated statement of CI to reflect this expenses? a. P232,000 b. P222,800 C. P236,000 d. P192,000