Laila Company developed a new machine for manufacturing baseballs and is patented.

The related costs at the beginning of the year are:

Purchase of special equipment to be used solely for development of new machine P700,000

Research salaries and fringe benefits for engineers and scientists 500,000

Cost of testing prototype 200,000

Legal cost for filing a patent 150,000

Fees paid to government patent office 250,000

Drawings required by patent office to be filed with patent application 50,000

Legal life 5 years

Useful life 10 years

At year-end, due to the pandemic, the entity determined the following:

The patent's annual net cash flow for the remaining life is P105,000 and the discount rate is 14%.

The entity used 2 decimal places for the PV factor.

1. How much is the patent at year-end?

2. How much is amortization expense at year-end?

3. How much is the impairment loss at year- end?