Juan sold his principal residence in Makati City. The selling price agreed upon was P5,000,0000 while the zonal value was P8,000,000. He bought his old residence for P2,000,000. A year later, Juan bought a new residence amounting to P6,000,000. The adjusted cost or basis of the new residence was:

Group of answer choices

P6,000,000

P3,000,000

P5,000,000

P4,000,000