On January 1, 2019, A Company's financial statements included the ff items: a patent of P1,000,000 with related accumulated amortization of P100,000. The patent was purchased on January 1, 2017 at which date the legal life is 10 years. However, as of January 1, 2019, the remaining useful life was determined to be 5 years. . a non-competing agreement reached with a competitor in relation to a trademark the company purchased. A Company paid P250,000 to the competitor in total. It was determined that 40% of this was for the trademark and 60% was for the agreement not to compete for a 3-year period. Further, the company will pay the competitor an agreed amount of P50,000 annually as a result of the contract. Determine carrying amount of intangible assets as of December 31, 2019. O 920,000 O 850,000 O 820.000 O 887,500