On December 31, 2017, Lucrative Company showed the following intangible assets:

Trademark	6,720,000
Patent	3,360,000

The trademark has 8 years remaining in its legal life. However, it is anticipated that the trademark will be routinely renewed in the future. Thus, the trademark is considered to have an indefinite life. Because of an inflationary economy, the trademark is expected to generate cash flows of P224,000 per year. The appropriate discount rate is 10%.

The patent has an economic life of just 7 years because of market conditions. It is expected that the patent will generate cash flows of P560,000 per year. The appropriate discount rate is also 10%. Lucrative Company shall recognize in 2017 total impairment loss at