n January 1, 2020, Marvelous Company owned a group of machines with the following aggregate cost and accumulated depreciation:

Machinery 135,000,000

Accum. depreciation 37,500,000

The machine has an average remaining life of four years and it has been determined that this group of machines constitutes a cash generating unit.

The fair value less cost of disposal of this group of machines in an active market is determined to be P 72,000,000.

Based on supportable and reasonable assumptions, the financial forecast for this group of machines reveals the following cash inflows and cash outflows for the next four years:

	Cash Inflows	Cash Outflows
2020	45,000,000	18,000,000
2021	48,750,000	26,250,000
2022	41,250,000	18,750,000
2023	24,000,000	6,000,000

It is believed that a discount rate of 8% is reflective of time value of money. The table of present value shows the following present value of 1 at 8%:

Period	Present Value of 1
1	0.930
2	0.857
3	0.794
4	0.735

How much is the impairment loss?