ETHAN Company is selling its condominium unit with a carrying amount of P3,500,000. It received an offer from Bailey Company in which it will issue a P4,800,000,3-year note having a stated rate of 9% which was the prevailing rate. Furthermore, the note shall be collected in three equal amounts to include the interest that will start one year from the date of the issuance of the note. The annual collections from the note is ROUND INTERMEDIARY COMPUTATIONS TO 4 DECIMAL PLACES; FINAL ANSWER TO WHOLE NUMBER. ANSWER FORMAT