On April 1, 2021, Fraser Co. issued P10,000,000, 10%, 10-year bonds. The bonds were dated January 1, 2021 and pay interest annually every December 31. The bonds were issued to yield 11%. On December 31, 2023, after the payment of the annual interest, Fraser retired bonds having a face value of P2,000,000 at 95. On October 1, 2024, Fraser retired bonds having a face value of P5,000,000 at par plus accrued interest. 1. How much cash was received by Fraser when the bonds were issued? 2. How much is the carrying amount of the bonds on December 31, 2021? 3. Determine the gain or loss on the early retirement of the bonds on December 31, 2023. (Indicate if gain or loss). 4. Determine the gain or loss on the early retirement of the bonds on October 1, 2024. 5. Compute for the total interest expense incurred by Fraser in 2024. 6. Compute for the carrying amount of the bonds on December 31, 2025.