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4. At the beginning of the year 2023, VULTURE Company issued bonds with total face amount of P9,000,000 when market rates averaged 8%. The bonds are payable in six equal annual installments starting on December 31, 2023. In addition, interest of 6% is payable on the same dates as the principal installment payments. Interest expense for the year 2024 shall be a. P459,364 b. P347,313 c. P569,781 d. P450,000 Carrying amount of the bonds as of December 31,2026 shall be a. P5,742,047 b. P4,341,411 c. P1,472,222 d. P2,918,724