On January 1, 2016, Pharaoh Company issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year. The bonds matures in 3 equal annual payments installments every December 31. The interest is also payable every December 31. The bonds acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost. How much is the issue price of bonds on january 1, 2016? How much is the interest expense for 2016