Kenkoy inherited property on November 1, 2012, with a fair market value and a mortgage at that time of P200,000 and P100,000, respectively. He married on January 10, 2013, under the property relationship of conjugal partnership of gains. On March 5, 2014, he borrowed P200,000 from a bank and mortgaged the same property. Kenkoy died without paying any of the mortgage indebtedness. Disregarding accrued interest on the mortgage indebtedness, deduction against exclusive property is:

a. P200,000 c. P300,000

b.P100,000 d. None of these