Information concerning Facebook Corporations intangibles is as follows:

On January 1, 2021, it signed an agreement to operate a franchise of Win, Inc. for an initial franchise fee of P 85,000. Of this amount, P 25,000 was paid when the agreement was signed, and the balance is payable in four annual payments of P 15,000 each beginning January 1, 2022. The present value at January 1, 2021 of

the four annual payments discounted at 14% (the implicit rate for a loan at this type) is P 43,700. The agreement also provides that 5% of the revenue from the franchise must be paid to the franchisor annually. The companys revenue from the franchise for 2021 was P 900,000. Facebook estimates the useful life of the franchise to be 10 years.

The company incurred P 78,000 of experimental and development costs in its laboratory to develop a patent which was granted on January 2, 2021. Legal fees and other costs associated with registration of the patent totaled P 48,000. It estimates that the useful life of the patent will be eight years.

A trademark was purchased from Myrtle Company for P 40,000 on July 1, 2018. It estimates that the useful life of the trademark will be 20 years from the date of acquisition. On July 1, 2021, the company incurred expenditures amounting to P 68,000 in connection with a successful defense of the trademark.

1. How much is the total amortization of the intangibles for 2021?

2. How much is the carrying amount of the intangibles on December 31, 2021?