On December 31,2019, ABC Company leased equipment to DEF Company for a 4 year period ending December 31,2023. The equipment cost ABC Company P 365,760 and has an estimated useful life of 5 years. Its normal sales price is P 365,760. The lessee guarantees a residual value of P 80,000. Lease payment is due every December 31 and DEF Company made the first payment on December 31,2019. ABC's implicit interest rate is 10%.

1. If the residual value is not guaranteed, how much net investment in the lease shall be recognized on December 31,2019?
2. How much is the annual lease payment?
3. How much is the net investment in the lease at December 31,2020?
4. Before first payment on December 31,2019, how much is the gross investment in the lease?
5. How much interest revenue should ABC Company recognize over the 4 year lease term?