Lydio Company purchased P4,000,000 face value, 10%, 3-year Milo Co. bonds on January 1, 2021 when the prevailing market rate of interest was at 12%. Interests are collectible every December 31. Three-fourths of the Milo Co. bonds were sold on July 31, 2022 at a total proceeds of P3,500,000. Yield rate at December 31, 2021 and 2022, respectively were 8% and 14%. Assuming that the company's business model has no objective of holding the debt securities to collect contractual cash flows, the investment is reported in the statement of financial position as of December 31, 2022 at