Mayamaya issued its bonds payable 3 - year 10% P10,000,000 at par to Teatalktalk Company on december 27, 2018. the interest was payable annually. there was a downhill trend in the industry that Mayamaya was working and became less liquid and is currently experiencing financial difficulties. Mayamaya paid the interest for 2020. On december 31, 2020 Mayamaya renegotiated the bond indenture with Teatalktalk.

Teatalktalk agreed to the following modifications: - the interest rate will be 9% -transaction costs of P100,000 was incurred -new maturity date will be on december 31,2023 -the effective rate after considering the transaction cost is 10.412%

1. What is the carrying value of the revised loan as of the date of modification? 2. How much is the interest expense for 2021? 3. Assuming instead if renegotianing, Mayamaya retired the bonds for P9,150,000 on december 31,2020. how much was the total cash paid to the bondholder on this date?