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On April 1, 2020, Gretel Corp. issued at 99, P2,000 of its 8%, P1,000 bonds. The bonds are dated April 1, 2020, to mature on

On April 1, 2020, Gretel Corp. issued at 99, P2,000 of its 8%, P1,000 bonds. The bonds are dated April 1, 2020, to mature on April 1, 2030 and pay interest on April 1 and November 1. Gretel paid transaction cost of P20,000.

From the issuance, how much net cash did Gretel receive?

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