On January 1, 2019, a corporation issued 5,000 of its 5-year, P1,000 face value, 11% bonds dated January 1 at an effective annual rate of 9%. Interest is payable each December 31. On December 31, 2020, 3,000 bonds were extinguished early through acquisition in the open market by the corporation for P2,970,000 plus accrued interest. How much was the gain on early retirement of the bonds? O None. O P226,811 O P116,442 P181.785