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Mega Finance granted an 8%, 3-year P6,000,000 loan to Global Company on January 1, 20x8. The interest on loan is payable every December 31. Megabank

Mega Finance granted an 8%, 3-year P6,000,000 loan to Global Company on January 1, 20x8. The interest on loan is payable every December 31. Megabank incurred P148,122 of direct origination cost but an origination fee of P300,000 was charged against Global Company. The effective rate on the loan as a result of the origination fee and cost is not 9%. What amount of interest income should Mega Finance report in the December 31, 20x10 statement of comprehensive income? 

A. P480,000 

B. P526,331 

C. P530,500 

D. P535,046

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