On January 1, 2016, Subsidiary Company purchased a delivery truck with an expected useful life of 5 years and scrap value of P6,400. On January 1, 2018, Subsidiary Company sold the truck to Parent Company and recorded the following entry:

	Debit	Credit
Cash	40,000
Accumulated depreciation	14,400
Truck		42,400
Gain on sale of truck		12,000

Parent holds 60% of Subsidiary's voting shares. Subsidiary reported net income of P44,000, and Parent reported separate net income of P78,400 for 2018. In preparing the consolidated financial statements for 2018, depreciation expense will be: