Jardine Company had the following loans outstanding during 2010 and 2011

Specific construction loanP2,000,00015%

General loan15,000,00012%

The entity began the self-construction of a building on January 1, 2010 and was completed onAugust 31, 2011. The following expenditures were made during 2010 and 2011:

January 1, 2010P2,000,000

July 1, 20104,000,000

November 1, 20103,000,000

July 1, 20111,000,000

P10,000,000

Required:What is the cost of building? (Show Solution)