Nestle Company purchased the bonds on March 31, 2014, with the following details:

Face amount of the bonds P3,000,000

Date of issue of bonds January 1, 2014

Nominal rate 8%

Effective rate 6%

Semi-annual interest payment January 1 and July 1

Date of maturity P1,000,000 every January 1 starting 2015

1. How much is the purchase price of bonds?

2. Accrued income at December 31, 2015 is

3. Interest income on 2016 is