On January 1, 2018, Sycamore Company purchased 5-year bonds with face value of P8,000,000 and stated interest of 10% per year payable every December 31. The bonds were acquired at P8,311,172 to yield rate of 9%. The objective of Sycamore's business model is to collect the contractual cash flows and sell financial asset. The fair value of the investment for the year ended 2018 and 2019 is 104 and 105, respectively. The investment was sold for 102 on January 1, 2020 and the Company incurred transaction cost amounting to P99,000. There is no indication that the investments credit risk increased from initial recognition.

How much is the derecognition gain or (loss) to be presented in the P&L? (round off your answers to the nearest peso value)