GREEN Company organized on January 2, 2020, had pretax accounting profit of P5,000,000 and taxable income of P8,000,000 for the year ended December 31, 2020. The only temporary difference is accrued product warranty costs that are expected to be paid as follows: P1,000,000 in 2021, P500,000 in 2022, P500,000 in 2023, and P1,000,000 in 2024. GREEN has never had any net operating losses and does not expect any in the future. The enacted income tax rates are 30% for 2020- 2023, and 35% for 2024 thereafter. In GREENs statement of comprehensive income for the year ended December 31, 2020, what is the amount of the deferred tax benefit?